Full text of Minutes of the Board of Governors of the Federal Reserve System : Index to Minutes of Board of Governors of the Federal Reserve System 1951, Volume 38

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

INDEX TO MINUTES
OF
BOARD OF GOVERNORS
OF %lit
FEDERAL RESERVE SYSTEM
1951




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

INDEX
1951

”An
1
Pages
A. Harris Motor Sales, Pittsburgh, Pa., order directing investigation for violation of Regulation W
Abbott Laboratories, Regulation X, warehouse to be constructed
by Kilbane Brothers, Inc., subject to
Acceptances:
Foreign branches of national banks, subject to requirements
of paragraphs 7 and 12 of section 13 of
FRAct, advice to Comptroller of the
Currency
Acceptances up to 100%:
Hibernia National Bank in New Orleans, La., application
approved
Acme Electronics, Inc., V-loan by California Bank of Los
Angeles, commitment fee to accrue from
date of execution of agreement, advice
to FRBank of San Francisco
Addresses:
Policy matters of Board, Chairman to be official spokesman
for, discussion in connection with appearance of Mr. Eccles before Joint Committee on Economic Report
Addonizio, Hugh J., Regulation W, destruction of old forms and
use of new revised ones because of amendments, advice to
Adkins, James C., Regulation WI letter to Senator Cain re advertisement concerning exemptions for
veterans under section 7(0(5)
Admiral Corporation:
Regulation WI trade-ins, discussion with representatives of
Advertisements:
FRBulletin, savings bond campaign on back cover of August
issue
Affiliates:
Burlington Transportation Company, of Bankers Trust Company,
New York, granted additional time for submission of condition report
Granted additional time for submission of report
Requirement for submission and publication of condition report as of December 30, 1950,
waived




1/30

211

/
8 7

1703

4/30

912

3/16

607

5/28

1204

1/30

219

5/25

1190

8/21

1789

9/11

1915

8/16

1762

2/5
2/26

247
hill

3/16

6o6

2

Pages
Affiliates: (continued)
Colonial Surety Company, of Pennsylvania Company for Banking and Trusts, amendment of charter to
permit writing of fire, theft, and collision insurance on automobiles, question
of violation of condition of membership
of member bank, advice to FRBank of
3/7
Philadelphia
Homedale State Bank, Homedale, Idaho, of Continental State
Bank, Boise, Idaho, condition report on
5/8
FR 220 and FR 220a not required for
Loans and extensions of credit under Section 23A Bank of
Laguna Beach, California, purchase of
note of affiliated corporation, Laguna
Beach Securities Corporation, advice
7/31
to FRBank of San Francisco
Loans to, purchase of affiliate's note, statement to be
8/13
published in FRBulletin
purchase of stock of
Pan American Bank of Miami, Florida,
corporation holding bank premises, question of affiliate relationship, advice
to FRBank of Atlanta
3/5
Rhode Island Hospital National Bank of Providence, R.
absorption by Rhode Island Hospital Trust
10/19
Company, Providence, approved
Air Conditioning:
3/27
FRBank of Atlanta, installation in Silvey Building
improvement
2/2
New Orleans Branch, expenditure authorized for
improvement under
Regulation X, determination as major
10/17
section 2(g), advice to FRBanks
reply to letter re refusal of loan
Allan, John, Regulation WI
for automobile repairs and paying off
1/12
minor bills
Regulation W, telegram to Congressman Riley
Allen, Lester W.,
/22
6
on
Allen, W. P., Regulation X, housing needs of defense areas,
2/2
reply to letter from
Allied Motors, Inc., Kansas City, Mo., Regulation W, financing
of automobiles for parts salesmen of,
3/7
advice to FRBank of Kansas City
Alternates:
Staff members serving as alternates for Board members on
committees or at meetings, objection of
7/24
Mr. Vardaman to
American Auto Appraisal, copies of Amendment No. 5 to Regula12/29
tion W sent to
American Bankers Association:
Assignment of Claims Act, amendment to, draft to be prepared for inclusion in omnibus bill
1/9




509
1000

1661
1733

488
2143
684
240
2128
115
1407
243
514

1615
2516
81

3
Pages
American Bankers Association: (continued)
Booklet to be published by special committee on policies
of commercial banks re investments in
municipal bonds
5/29
Educational program of Consumer Credit Committee to protect
buying power of dollar
2/12
French, Walter, Regulation 14, recommendation that no action
be taken on delisting older model cars
12/27
Loans, statistics on those turned down pursuant to voluntary
credit restraint program, statement re at
FAC meeting
11/20
Luncheon for State bankers associations delegations at
Board Building to be arranged by
319
Voluntary agreements, letter to President, copy sent to
Mr. Sproul
2/5
Advice to FRBanks
2/7
Voluntary credit restraint program, letter to be sent to
borrowers on
5/15
Letter sent to all banks over signature of President
5/18
American Can Company, Baltimore, Md.:
Regulation X, building to be constructed as enlargement
considered nonresidential, advice to
FRBank of New York
12/12
American Economic Association, expenses and official leave authorized for attendance at meeting in
Boston
12 18
/
American Federation of Labor:
Regulation X, effects of, views of organization in letter
from Mr. Shishkin
6 12
/
American Institute of Banking:
Annual Convention in Houston, contribution by Houston
Branch toward general expenses approved
11/16
American Life Convention:
Voluntary agreements, letter to, copy sent to Mr. Sproul
2/5
Advice to FHBanks
2/7
American Marketing Association, expenses and official leave
authorized for attendance at meeting in
Boston
12 18
/
American Statistical Association, expenses and official leave
authorized for attendance at meeting in
Boston
12 18
/
Anderson, Clinton P., Regulation WI violations of Household
Appliance Company of Albuquerque, New
Mexico, explanations furnished to
6/29
Anderson, Jack Z., Regulation X, inquiries from Mr. Miller
re construction of farm residences
3/14
Anderson, Wilson, Regulation 4, inquiry re present need for
3/16
Annual reports:
Board of Governors:
1950 approved, copies to be sent to Speaker of House
and President of Senate
5/29



1213
324
2495
2277
78
251
266
1063
1139

2406
2h0
1317
2268
251
266
2441

2)141
1466
584
609

1213

4
Pages
Annual reports: (continued)
Board of Governors: (continued)
Savings bond program, expenses paid by Board to be
incorporated in
Expenses for savings bond luncheons and dinners to
be recorded in
Council of Economic Advisers, Annual Economic Review,
comments on Credit and Debt Management
section, revised memorandum to be sent to
Holding company affiliates on Form FR 437 for 1951, advice
to FRBanks
Appraisal guides:
American Auto Appraisal, request that 1951 retail values
for used car models be included
Automobiles with air conditioning units, application to,
advice to FRBank of Dallas
Designation for Part 4 of Supplement to Regulation WI
advice to FRBanks and to publishers
Designation of March and January issues approved for
price ceiling regulation, advice to
FRBanks
Designation, Recording and Statistical Corporation, reply
to letter from Mr. Meffley
Designation limited to editions and reprints approved by
OPS, advice to FRBanks
Red Book National Used Car Market Report and Blue BookExecutives Edition published by National
Used Car Market Report, Inc., amendment
of designation under Regulation WI advice
to FRBanks
Regulation Id, Amendment No. 5, elimination of reference
to, copies sent to Recording and Statistical Corporation and other publishing
companies
Retail values for 1951 used models, advice re date of
inclusion requested from publishers
Statement to be published in FRBulletin
Values to be based on prices approved by OPS at present,
but estimate of up-to-date, current
average retail values to be published
in future, advice to FRBanks
Armstrong, O. K., Regulation X, inquiry from Mr. Bunn on
registration statement
Assessments:
Audit of certified statements for assessment purposes,
FDIC to extend program to banks in
Boston, Richmond and San Francisco
Districts, inclusion of verification
of reports in regular examination procedure desired




5/31

1219

7/19

1587

1/2

1

12/20

2476

2/19

380

5/25

1186

2
/23

433

3/8

527

3/9

553

3/30

711

2/1

231

12
/29

2516

2/19
2/12

380
326

5/24

1181

61
/1

1292

61
/1

1276

S
Pages
Assessments: (continued)
FDIC audit of Certified Statements submitted for, program
to be extended to Sixth, Eighth, Ninth,
Tenth, and Eleventh FRDistricts
7/25
FRBanks, for expenses of Board for last half of 1951
6 5
/2
FRBanks for expenses of Board for first half of 1952
12/26
Assignments, Board of Governors:
Norton, E. L., question to be discussed with Chairman
Martin in view of legislation re real
estate credit not being discussed with
7/24
Review suggested by Mr. Vardaman, but no action to be
taken until regular time of review
2/21
Associated Press Washington News Report service, subscription
approved
3/20
Association of Reserve City Bankers:
Savings bond campaign, President Dodge to carry on promotion campaign, statement of Mr. Powell
8/16
Voluntary agreements, letter to, advice to FRBanks
2/7
Atlas Sew-Vac Stores, Inc., Houston, Texas, Regulation W
violations, order directing investigation
5/16
Atlas T. V. Stores, Inc., Houston, Texas, Regulation W violations, order directing investigation
5/16
Atomic Energy Commission:
Guaranteeing agency for defense production loans, designation under Executive Order No. 10223,
advice to FRBanks
3/15
Attorney General of United States:
Bank of Montreal, Canada, Chicago Branch, violation of
section 21 of Banking Act of 1933,
advice to
6
/27
Suit filed by Mr. Soble against, further advice sent
to
12/28
Voluntary agreements, copy of Program to be submitted to
for comments
1/23
Letter to, copy sent Mr. Sproul
2/5
Advice to FRBanks
2/7
Program and Request resubmitted to for approval
2/16
Question of FRBank representation on subcommittees,
difference of opinion re, Chairman
McCabe and Mr. Powell to discuss
matter with
2
/27
Amendment to program re membership of Federal Reserve
representatives on subcommittees, advice
to
3/5
Voluntary Credit Restraint Program and Request approved
by, advice to Board
3/9
Copy of Request and Finding submitted to
3/9
Auditors of FRBanks, conference to be held in Washington
3/26




1620
1)416
2490

1610
422
633

1762
267
1093
1094

602

1439
2512
165
251
266
363

455
484

534
544
6714

6
Pages
Audits:
Books and accounts of Board, employment of firm of certified public accountants to audit suggested
by Mr. Vardaman, matter referred to
Mr. Norton
Present plan satisfactory, audit by firm of certified
public accountants not necessary
Commercial banks, procedure for, discussion in connection
with discussion of bank defalcations
CCC custodian accounts, request by PMA auditors for copies
of CCC reimbursable expense vouchers in
connection with, declined, advice to
FRBanks
Expenses of Board or FRBanks, question of being subject
to control of any agency of Congress or
Executive Branch of Government, comments
of FRBanks requested for Patman Subcommittee questionnaire
FDIC, certified statements submitted for assessment purposes, program to be extended to banks
in Boston, Richmond and San Francisco
Districts, inclusion of verification of
reports in regular examination procedure
desired
Program to be extended to Sixth, Eighth, Ninth, Tenth,
and Eleventh FRDistricts
FRBank of Kansas City, strengthening of staff necessary,
information re progress requested
FRBanks, discussion in connection with memo on examinations
FRBanks, procedures and relationships of auditors to Board
of Directors and to Board's Division of
Examinations discussed
General Accounting Office, placing of System's expenditures
under control, statement of Mr. Vardaman
Problem of procedure to determine adequacy of system, to be
studied, advice to FRBanks
Automobiles:
Car washing facilities in garage of Board's building, expense authorized
Chrysler, Division of Administrative Services authorized
to sell 1942 model upon delivery of 1951
Windsor Limousine
Passenger, memo on sales and stocks, copy to be sent to
House Banking and Currency Committee

Balderston, William, Philco Corporation, Regulation WI tradeins as down payment, invitation to meeting
for discussion




7/19

1586

9/4

1859

10/4

2059

45
/

744

9/12

1925

6/11

1276

7/25

1620

9/19
4/19

1966
855

/
53

963

7/19

1584

8/2

1671

3/13

576

2/28

469

5/31

1216

9/4

1855

7
Pages
Baltimore:
Off-street parking program, amendment to Regulation X to
exempt financing of
Regulation X, City subject to under section 2(a)
Bank for International Settlements:
Annual meeting, Mr. Marget to represent Board
Annual General Meeting, Mr. Marget authorized to attend
Annual meeting at Basle, Switzerland, report of Mr.
Marget on
Banking quarters:
Bank of York, Alabama, additional investment for construction of new building and purchase
of fixtures approved
Citizens State Bank, Liberal, Kansas, expenditure for construction of new building approved
Bank and Trust Company, Cambridge, Mass., additional
County
expenditure for improvements approved
Guaranty Bank Se Trust Company, Jackson, Miss., adDeposit
ditional investment for construction of
parking garage, annex to main office and
branch office building approved
Detroit Branch, building project, increase in allowance
for contingencies approved in connection with
Farmers State Bank of Worland, Wyoming, expenditures for
remodeling banking premises approved
FRBank of Atlanta:
No objection to purchase of Silvey Building
No objection to installation of air conditioning in
Silvey Building
Georgian-American property, no objection to purchase of
Lease-purchase arrangement for Silvey Building
approved
FRBank of Boston, addition and remodeling of building,
call for bids authorized
Revised building program, no objection to expenditure,
contract to be given to George A. Fuller
Company
Addition to building, application to National Production Authority for authorization to construct, information re case sent by Board
FRBank of Dallas, no objection to program of construction
of coin vault and other alterations at
cost not to exceed i;125,000
FRBank of Minneapolis, addition to building, authorization
for proceeding with preparation of plans
for
FRBank of New York, fluorescent lighting and revisions to
electrical system authorized
FRBank of Philadelphia, modernization program approved
subject to permit from NPA




4/4
3/2

727
480

5/14
5/22

1041
1156

81
/4

1735

9/27

2019

2/2

240

3/16

605

6 12
/

1315

10/17

2126

1/30

220

1/24

182

3/27
5/23

684
1173

11/15

2253

1/2

13

3/22

646

3/28

692

7/26

1630

10/9

2077

)4/18.

8)49

11115

2252

8
Pages
Banking quarters: (continued)
FRBank of Richmond, outside space to be obtained for use
of Bank's functions during emergency
interim period if Board's skeleton staff
transferred to, rental costs to be submitted to Board
Establishment of three additional TWX machines for
emergency operation requested of Telephone Company
FRBank of San Francisco, alterations to building, authorization of National Production Authority
requested for
FRBranch construction, legislation not to be proposed at
this session of Congress
Legislation to remove limitation on cost, comments of
FRBanks requested for report on legislative proposals for 1952
Legislation to increase limitation on maximum cost,
advice to Bureau of the Budget
Fidelity Bank, Durham, North Carolina, additional investment for main office and West Durham
branch approved
Fidelity Bank and Trust Company, Houston, Texas, additional investment approved
Hadley Falls Trust Company, Holyoke, Mass., removal of
branch office on Center Street, Chicopee,
Mass., to new building, Board approval
not required
Liberty National Bank and Trust Company, Louisville, Ky.,
financing of branch building, extension
of deadline under section 5(g) of Regulation X, not approved
Los Angeles Branch, addition and alteration project, status
of contract with and fees to architect for
Marion County Banking Company, Guin, Ala., additional investment for remodeling approved
Nashville Branchl newbuilding, selection of site and preliminary plans to be made before request
for authorization, Governor Norton to be
advised of developments
Need for new building, discussion of choice and price
of sites for
New Orleans Branch, no objection to replacement of elevator and expenditure
Expenditure authorized for improvement of air conditioning equipment
Normandy State Bank, Normandy, No., investment in bank
premises approved
Parker Bank and Trust Company, Cullman, Ala., investment
for purchase of lot and construction of
new building approved




4/17

833

/
5 3

972

3/7

511

1/9

82

11/2

2203

12/4

2353

1/25

199

8/3

1682

4/16

813

7/11

1527

7/31

1661

4/4

725

10/1

2031

11A

2207

13
1

21

2/2

240

4/16

813

3/23

655

9
Pages
Banking quarters: (continued)
Peoples Trust Company of Bergen County, Hackensack, N. J.,
additional investment in premises
approved
Richland Trust Company, Mansfield, Ohio, increase in carrying value of indirect investment in bank
premises approved
Security State Bank and Trust Company of Beaumont, Texas,
additional expenditure for completion of
store space on ground floor approved
State member banks, investments in, advice to FRBanks re
chargeoffs and Board approval required
for
Bankruptcy, deposit of trust funds by trustee in proceedings,
advice to Senator Wiley re inquiry from
Mr. Omernik
Barclay, William K., Jr., to be appointed member of Voluntary
Credit Restraint Committee to represent
National Association of Securities
Dealers
Barit, A. E.,Regulation W, effect of restrictions on automobile sales
Barnett, Robert W., Aegulation X, applicability to conditional
sale plan for new residence
Barrett, Charles R., Regulation WI application to combination
storm windows and screens manufactured by
Dodge Window Company of Oak Park, Ill.,
letter to FRBank of Chicago
Barrett, Frank, Regulation W, reply to letter on maturity requirements for cars
Bates, William H., letter from Mr. Wentworth on effects of
Regulation W on sales of automobiles to
workingmen who require cars to reach
places of employment
Beauty Shop, Board of Governors:
Guyselman, Mrs. Anna, termination of contract with
Luster, Mrs. Mildred Louise, application to operate approved
Bell, Daniel W., position of commercial banks under excess
profits tax, study re discussed with
Chairman Martin
Benton, William, Regulation X, views of Mr. Deegan, Editor
of Stratford News, Stratford, Conn., on
Berger, Alex, Jr., request for copy of letter to MercantileCommerce Bank and Trust Company, St. Louis,
Mo., re purchase of Mercantile-Commerce
National Bank, Board not to furnish such
information
Bergson, Herbert A., Office of Defense Mobilization, draft
bill of amendment to Defense Production
Act, changes in language suggested, advice
to




2/5

248

5/28

1197

4/10

773

4/30

914

12 1
/9

2455

3/13

578

5/21

1144

12 1
/8

2449

14
/

35

3/13

574

6/5

1256

9/26
10/18

2007
2132

10/15

2110

5/16

1096

7/12

1536

3/23

663

10
Pages
Bernstein, Stuart, Regulation W, application to plan of
Illinois Power Company for instalment
rental of gas-fired water heaters
Further advice to instalment rental by Illinois Power
Company of gas-fired water heaters
R., rates of interest on time deposits under
Berry, Cecil
Regulation Q, advice to
Berry, E. G., Regulation X, letter re employment situation
in building trades in Temple, Texas
Better Business Bureaus, Inc., Regulation W, enforcement
reply to Mr. Barnard on views
Bewick, Harold, Regulation X, protest re
Biddulph, William G., Regulation W, applicability to veteranst
loans for automobiles
Bierman, Norman, Regulation W, leasing arrangement of Feld
Auto Leasing Company, inquiry re exemptions
Blackburn, D. R., Regulation X, construction of building at
Victoria, Texas, not exempt from
Blomgren, J. E., Federal Security Administration, Regulation W,
application to loans by Federal credit
unions
Board of Governors:
Activities under Defense Production Act, report for first
half of February submitted to Joint Committee on Defense Production
Administration, use of Government ruling and interpretations with respect to pay bill
Annual report:
1950 approved, copies to be sent to Speaker of House
and President of Senate
Savings bond program, expenses paid by Board to be
incorporated in
Expenses for savings bond luncheons and dinners to be
recorded in
AP Washington News Report service, subscription approved
Assignments:
Norton, E. L., real estate credit, question to be discussed with Chairman Martin since matters
of legislation not discussed with
Review suggested by Mr. Vardaman, but no action to be
taken until regular time of review
Audit of books and accounts, employment of firm of certified public accountants to make, suggestion of Mr. Vardaman, matter referred to
Mr. Norton
Present plan satisfactory, audit by firm of certified
public accountants not necessary
Automobiles:
Division of Administrative Services authorized to sell
1942 Chrysler Royal upon delivery of 1951
Chrysler dindsor Limousine



10/15

2113

12 19
/

2458

11/23

2299

6/22

1408

12/26

2488
1676

8/2
1/30

222

8/31

1852

5/24

1182

5/28

1199

2/21

428

10/26

2166

5/29

1213

5/31

1219

7/19
3/20

1587
633

7/24

1610

2/21

422

7/19

1586

9/4

1859

2/28

469

U
Pages
Board of Governors: (continued)
Beauty Shop:
Guyselman, Mrs. Anna, termination of contract with
9/26
Luster, Mrs. Mildred Louise, application to operate
approved
10/18
Budget:
1951, increase in Adjusted Budget for salaries
approved
7/16
1951, to be increased to cover first annual premium
for Board employees under group life
insurance policy
1111
1952, staff to proceed with preparation for consideration by Board after return of Mr.
Vardaman
10/30
1952, approved
12 1
/8
1952,itemof personal services to be increased to
cover salary increases for official
staff
12 0
/2
Board Members Offices, increase in Stationery and
Supplies account for 1950 approved
1/17
To be increased to cover cost of AP Washington
News Report service
3/20
To be increased to cover services of attorney and
legal stenographer to assist Mr. Evans
in preparation of Transamerica report
3/29
Board members section:
Expenditure in excess of 1951 estimate for Printing and Binding approved
8 28
/
Increase of *3,000 for salaries and traveling expenses of hearing examiners borrowed for
Regulation W hearings approved
10/25
Counsel's Office:
Items of stationery and supplies and printing and
binding to be increased in 1950 budget
1/22
Traveling expense item to be increased
4/25
To be increased to cover cost of printing Compilation of Federal and State Laws Relating
to Branch Banking within United States
9/6
Item for telephone and telegraph expenses to be
increased
9/11
Division Heads authorized, with consent of Budget
Officer, to make commitments against
Division budgets for following year
for routine purchases and authorization
re expenditures not exceeding 10% in
excess of original budget reaffirmed
10/25
Division of Administrative Services:
To be increased to cover study re active service
death benefits if paid by Board
1/3
To be increased to cover additional cost for film
Federal Reserve System
1/30




2007
2132

1553
2195
2183
2439

2472
140
633

699

1841
2155

156
892

1881
1923

2155

24
224

12
Pages
Board of Governors: (continued)
Budget: (continued)
Division of Administrative Services: (continued)
To be increased to cover cost of reprinting booklet
FRSystem--Its Purposes and Functions
be increased to cover costs for installation of
To
car washing facilities in garage
increased to cover costs of binders for use
To be
in connection with Loose-Leaf Service
To be increased to cover cost of luncheon, reception, etc., in connection with taking of
oath of office by Mr. Martin
To be increased to cover costs for printing and
distribution of placards for Voluntary
Credit Restraint Program
To be increased to cover cost of luncheons for
officials attending meeting of Boards
of Governors of International Bank and
Fund
To be increased to cover cost of dinner and
luncheon meetings to make plans for
defense bond drive
To be increased to cover cost of sound proofing of
ceiling of cafeteria and conversion of
tunnel to storage space
Division of Examinations:
To be increased to cover cost of dinner for Reserve
Bank representatives attending Auditors'
Conference
Increase in Miscellaneous Expenses and Telephone
and Telegraph accounts approved
Division of Personnel Administration:
To be increased to cover cost of reception for
Mr. Hilkert
To be increased to cover contribution for Reserve
Board Club picnic
Miscellaneous account to be increased
Uniforms for nurse, increase in amount for
To be increased to pay substitutes for nurse and
maid during short absences for remainder
of 1951
Traveling expense account to be increased
To be increased to cover expenses of program for
stenographic and typing classes
Expenses for physical examinations of prospective
FRBank employees by Board's doctor to be
charged to
Increase to cover cost of Christmas party approved
Division of Research and Statistics:
To be increased to cover reimbursement to Survey
Research Center in connection with Survey
of Consumer Finances for 1950



3/1

473

3/13

576

3/14

586

3/23

666

45
/

735

9/5

1870

9/13

1932

9/17

1944

5/22

1162

8/31

1853

5/28

1207

6/1
7/27
8/16

1232
1640
1765

9/14
9/20

1941
1979

10/8

2074

10/12
12/10

2098
2392

3/6

505

13
Pages
Board of Governors: (continued)
Budget: (continued)
Division of Research and Statistics: (continued)
Cost of special tabulation of 1948 Census of
Business data re consumer credit to
be absorbed by
To be increased to cover revision of consumer
credit statistics
To be increased for cost of printing publication
"Development of Bank Debits and Clearings
and Their Use in Economic Analysis", by
George Garvy
Increase in consultants' fund for group on Patman
subcommittee questionnaire approved
Expense for consultants to work on consumer credit
series revision to be charged to
Division of Selective Credit Regulation:
To be increased to cover reimbursement of FRBank
of Philadelphia for services of Messrs.
Benner and hastburn
Budget approved as revised
McCabe, Thomas B., reception and dinner for, to be
increased to cover costs
Midyear review of 1951 and proposed form and scope of
1952 budget, memo from Personnel Committee
Procedure for preparing 1952 budget, review with division heads, matters to be on docket
for meeting on September 20
Secretary's Office:
Increase in Printing and Binding account for
1950 approved
To be increased to cover cost of additional safe
for storage of minutes
To be increased to cover cost of Recordak equipment
To be increased 000 for furniture and equipment
Expenditure in excess of 1951 estimate for Printing
and Binding approved
To be increased to cover travel expenses and per
diem for Mrs. Pilger during stay at
FRBank of Atlanta
To be increased to cover per diem and travel
expenses for Mrs. Pilger during assignment at FRBank of Atlanta
Solicitor's Office:
To be increased to cover investigation of Fifth
Avenue Motor Sales, Inc.
To be increased to cover witness fees in Regulation
W hearing of Fifth Avenue Motors Inc.,
Columbus, Ohio




6 13
/

1336

6 6
/2

1423

7/5

1502

10/15

2104

10/26

2174

1/22
3/2

482

3/23

666

10/30

2182

9/11

1914

1 17
/

140

1/25
3/23
5/16

666
1101

8 28
/

1841

155

199

11/6

2209

12/12

2398

1/2

10

1/12

117

14
Pages
Board of Governors: (continued)
Budget: (continued)
Solicitor's Office: (continued)
1950 budget to be increased in connection with Transamerica case
1/19
To be increased to cover expenses for reporting
service in investigation of Hoy's Appliance Company, Beloit, Wis.
1/25
Reporting services in connection with investigation of A. Harris Motor Sales to be
covered in
1/30
Reporting services for investigation of Bogda
Motor Company, Inc., to be covered by
1/30
1951 budget to be increased for furniture and
equipment
3/6
Increases for 1951 approved
5/22
Statement of budgetary and salary procedures approved
6 12
/
Building:
Cafeteria, sound proofing of ceiling approved
9/17
Car washing facilities, installation in garage approved 3/13
Dining rooms:
Blue Room, memo on reservation by members of Board
for luncheon approved
9/11
Leased wire system, additional installations, arrangements of Western Union approved, advice to
Mr. Manning
11/8
Recordak equipment, purchase approved
3/23
Safe, purchase of additional for storage of minutes
of Board and FOMC approved
1/25
Shelter location in event of bombing
9/11
Stock room supplies, increase in limitation on amount
approved, Division of Administrative
Services authorized to purchase in amount
not exceeding 020,000
7/26
Tunnel, conversion as storage area proposed as emergency
plan
9/11
Conversion into storage space by installation of
air conditioning unit, new doors, etc.
approved
9/17
Cafeteria, information in compliance with Sec. 4 of Ceiling
Price Regulation No. 11, supplied to OPS
4/11
Communications, Mr. Thurston to edit before presentation
to Board, approved in connection with
letter to Office of Defense Mobilization
7/24
Defense functions, advice sent to Chairman Johnson of
Preparedness Subcommittee on
5/21
Designation as "Department" under Renegotiation Act of
1951, recommendation opposing such designation
64
/




154

185

212
214
505
1161
1302
1944
576

1904

2217

666
199
1910

1630
1910

1944
786

1615
1143

1239

15
Pages
Board of Governors: (continued)
Division of Administrative Services:
Advance of funds for travel to members of field
examining force not exceeding 28 days
authorized
Stock room supplies, authorization to purchase in
amount not exceeding $20,000
Division of Bank Operations:
Priorities for materials, machine equipment, etc., to
be supervised by
Division of Examinations:
Organization, functions, and purposes, memo of Mr.
Wayne reviewing
Relationships with Bank Examination Departments of
Reserve Banks, memo of Mr. Wayne
Avision of Personnel Administration:
Group hospitalization, material to be handled by
Division of Research and Statistics:
Budget, discussion of activities and possible curtailment of services at Board
Educational activities, items of information sent to
Library of Congress
Educational projects and activities, reply to questionnaire
from Mr. Quattlebaum
Emergency plans, memo of Mr. Nelson approved, costs for
rental of outside space to be submitted to
Board
FRBank of Richmond to be used as relocation center,
memo of Mr. Carpenter approved
Executive branch of Government, question of being part of
in Patman questionnaire, comments of FAG
re answer requested
Executive training and development programs, discussion
at Presidents Conference of plans
Expenses, assessment on FRBanks for
Expenses, assessment on FABanks for
Fair employment practices, amendment to procedures
Revised statement of procedures approved, copy to be
sent to Fair Employment Board of Civil
Service Commission
Identification cards, issuance to members of certain groups
and form approved
Leased wire system, additional installations for more efficient service to be made, advice to
Western Union Telegraph Company
List of material received in Secretaryis office, routine
periodic items to be omitted from daily
Loyalty Board, membership, question of service of Board
member or division head on, referred to
Personnel Committee




6/29

1462

7/26

1630

4/2

714

5/23

1166

5/23

1167

6/4

1235

12/18

2437

10/2

2039

5/18

1125

4/17

833

9/11

1906

11/20

2284

10/4
6 5
/2
12/26
4/24

2056
1h16
2490
889

9/18

1962

9/27

2024

10/22

2144

3/2

482

7/17

1557

16
Pages
Board of Governors: (continued)
Loyalty Board: (continued)
Membership and advice re persons having access to
files sent to Mr. Fred E. Busbey
12/10
Loyalty program, applicability of Federal Employees'
Loyalty Program to officers ana employees at Board, advice to Civil Service
Commission
1/30
Meetings:
Agenda, division into two parts for staff discussions
and executive sessions, procedure approved 6 1
/2
Docket, information, to be read to inform members of
important matters, suggestion of Mr.
Vardaman
12/6
Executive session held
4/17
Executive session held
6/5
Executive, to be held as part of regular meetings on
Tuesdays and Thursdays
6 12
/
Informal weekly meetings to be held in Chairman
Martin's office for discussion of
matters of current interest
4/12
Memoranda circulated to Board members for consideration prior to meeting, copies to be
supplied to Board members
9/11
Quorum, amendments to Regulation W not to be acted
upon in absence of, statement of Mr.
Vardaman
7/31
Quorum present, policy actions not to be taken without, statement of Mr. Vardaman
8/7
Schedule, meetings to be held on Tuesdays and Thursdays, with docket to be circulated for
each meeting
1/4
Members:
Committees, service of staff member as alternate
opposed by Mr. Vardaman
7/24
Eccles, M. S.:
Monetary and credit measures needed, statement
re views of FAC and statement re
2/20
Resignation to be submitted
61
/9
Resignation, presentation of desk chair and mantel
clock upon
7/10
Statement before Joint Committee on Economic Report, memorandum of Mr. Vardaman
1/30
Evans, R. M.:
Article by Doris Fleeson re executive session of
FOMC, Mr. Vardaman's statement denying
giving out information not believed by
2/6
Blue Room, memo on reservation by members of Board
for luncheon approved
9/11
Consumer finances survey, in favor of Seventh
9/27




2393

221

1311

2368
836
1248
1311

797

1914

1645
1692

31

1615

389
1372
1524
217

257
1904
2012

17
Pages
Board of Governors: (continued)
Members: (continued)
Evans, H. M.: (continued)
Designation as Board representative to International Credit Conference, advice to
9/7
Mr. Siglienti
Marine Midland Corporation, Jersey City, N.J.,
application for voting permit, complaint re delay in notification of
matter
12/6
Application for voting permit, not approved
by, discussion with Mr. Pope
12/17
Regulation W, statement re enforcement and terms,
at FAC meeting
5/15
Amendment to exempt pre-1946 model automobiles,
telephone discussion
10/30
Regulation X, to negotiate with Mr. Foley adjustments in proposed down-payment schedule
8/9
Regulations W and X, enforcement procedure approved
81
/4
Reserve requirements, suggestions for revising
draft of loan expansion reserve bill
5/22
Transamerica report, authorized to arrange for
services of attorney and legal stenographer for preparation
3/29
Transamerica case, order extending time for filing
of recommended decision
4/17
Trip to Rome and England approved
81
/4
Trip to Europe, travel expenses approved
9/11
Trip to Europe, statement of plans, and correction
in amount of money authorized for expenses 9/20
Martin, Wm. McC., Jr.:
Absent from FAC meeting to attend meeting of North
Atlantic Treaty Council at Ottawa, Canada
9/18
Defense Production Act of 1950, extension statement to be prepared for use at hearings
4/26
Meetings to be held informally each week for discussion of matters of current interest
4/12
Meetings of directors of FRBanks and branches at
Board, suggested, to be considered
further
61
/9
Oath of office, costs for luncheon, reception, etc.,
in connection with approved
3/23
Oath of office and designation as Chairman
4/2
Reserves, statements to be made at hearings and at
meeting of Committee of Four
/
58
Statement before Senate Banking and Currency Committee on extension of credit authority
to existing properties
5/29
Welcome by Mr. Szymczak and statement re need for
full cooperation of Board
/3
4




1897

2366
2425
1064
2184
1718
1738
1155

699
818

1737
1916
1976

1946
895

797
1363
666
713

990
1212
715

18
Pages
Board of Governors: (continued)
Members: (continued)
McCabe, Thomas B.:
Absent from meeting because of required attendance
at another meeting
22
/1
Absent from meeting of Board to attend meeting with
Director of Office of Defense Mobilization
3/9
Actions to combat inflation, memorandum prepared at
request of Mr. Wilson
1/16
Appreciation of Board members for services, statement re
3/29
Efforts to reach understanding with Treasury, statement of Mr. Eccles
2/20
FOMC meeting with President of the U. S., statement
of Mr. Vardanyin re impression left after
2/6
Reception and dinner for, arrangements approved
3/23
Request for appearance before Joint Committee on
Economic Report, memorandum of Mr. Vardaman
on
1/30
Statement of means to combat inflation, memorandum
to be sent to Defense Mobilization Board
1/11
Norton, Edward L.:
Audit of books and accounts of Board, present plan
satisfactory, memo on
9/4
Market depreciation in open market account, question
to be studied by
3/27
Nashville Branch, selection of site and preliminary
plans for new building to be made, advice
re developments to be made to
10/1
Newsletters, suggestion re placing in convenient
place for reading promptly upon receipt
7/24
Real estate credit regulation, legislation not discussed with, question of assignment to be
discussed with Chairman Martin
7/24
Regulation X, statement re housing starts during
1951, at meeting of FAG
5/15
Regulation X and Bulletin No. 4 of Voluntary Credit
Restraint Committee, memo re amendments to
12/20
Travel requests of Board members to be submitted to
in absence of Mr. Evans
6/12
Powell, Oliver S.:
Agricultural research activities of FRBanks, distribution of material to be studied by
Personnel Committee and
5/10
Banking quarters at FRBanks of Philadelphia and
Atlanta, proposals re approved by
11/15
Capital requirements of member banks, legislation
to be discussed with Comptroller of the
Currency and Chairman of FDIC
1/9
Discussion with FDIC and Comptroller of the
Currency, report to be made
3/6




412
532
124
702
398
255

666
217
98

1859
681

2031
1610

1610
1063
2464
1312

1012
2258

82
496

Board of Governors: (continued)
Members: (continued)
Powell, Oliver S., (continued)
Draft bill re capital requirements, reserves, and
FRnotes
Emergency proclamation by President covering banking
situation, to represent Board on study
Loan expansion reserve plan, memo on
Marine Midland Corporation application for voting
permit, approved over telephone
Market depreciation in open market account,
question of way of handling put on docket
for Board meeting, matter to be studied
further by
Meeting of representatives of financing institutions
in New York on voluntary credit agreements,
to attend with Mr. Vest
Meeting at FDIC to discuss question re bank examinations, etc., statement on
Member bank capital legislation, draft presented
to FDIC and Comptroller of the Currency
for study
Mergers, joint statement proposed by Comptroller,
matter to be discussed further with
Messrs. Delano and Hanl
Officers' salaries at FRBanks of Richmond, Atlanta,
Minneapolis, and St. Louis approved
Publication of material prepared in response to
Patman Subcommittee referred to
Regulation X and Bulletin No. 4 of Voluntary Credit
Restraint Committee, memo re amendments to
Report on developments in voluntary credit restraint
program
Report on inventory situation resulting from decline in volume of retail buying and problems of business concerns and banks
Report on voluntary credit restraint program
Report on voluntary credit restraint program
Report on voluntary credit restraint program to be
discussed at Presidents Conference
Research programs of Board and FRBanks, memo re integration of, copies to be sent to members
of Board
Reserve requirements, loan expansion reserve bill,
suggestions re
Statement of Mr. Vardaman, opposed to distribution
at Board expense
Study re credit extension, to investigate kind to be
made
To confer with Mr. Riefler re Board representative
at meeting of Emergency Washington Committee on Flood Relief, because of absence
of Mr. Vardaman



19
Pages

4/12

793

12/7
3/6

2382
493

12/17

2430

3/27

680

2/1

228

11/27

2306

3/27

683

7 5
/

1497

5/1

944

12/28

2509

12/20

2464

4/17

829

5/28
5/1
5/22

1196
937
1151

9/5

1870

12 18
/

2439

5/22

1155

2/6

254

1/30

215

8 13
/

1731

20
Pages
Board of Governors: (continued)
Members: (continued)
Powell, Oliver S., (continued)
To maintain liaison between Office of Defense Mobilization and Voluntary Credit Restraint
Committee
Voluntary Credit Restraint Committee, recommendation
to be submitted by
Designation as Chairman, to call meetings and
to prepare agenda for
Meeting,report. of recommendations re Regulations
W and X
Voluntary Credit Restraint Program, memorandum of
recommendations
Statement re progress and work of committee, at
FAC meeting
Statement at Presidents Conference on progress
of
Appreciation of FAC expressed for work on
Report on current status
Retirement system, membership in Bank Plan rather than
in Civil Service, Personnel Committee to
study matter and make recommendation
Amendment to Civil Service Retirement Act to permit
membership in FRBank plan, Messrs.
Carpenter and Hilkert to study matter
Szymczak, M. S.:
Absent from Board meeting because of adverse weather
conditions preventing transportation from
Chicago
Committee report on stabilization of market and controlling inflation of private credit to be
submitted
Report on stock market developments
Reserve requirements, loan expansion plan, objection
to submission to FAC for discussion
S. J. Res. 78, to make restriction of FRAct on
holding office in member bank inapplicable
to, report to Senator Maybank
Report to Budget Bureau
Welcome to Chairman Martin and statement re need
for full cooperation of Board
Vardaman, James K., Jr.:
Absent from meeting because of other appointments
Absent from meeting to attend meeting at Capitol
Absence from meeting unexplained
Absent from meeting to keep another appointment
Absent from FAC meeting because of illness
Active service death benefit, opposition to provision through group life insurance




5/24 1176
3/5

486

3/6

498

3/20

621

4/5

730

5/15

1062

5/18
9/18
10/4

1138
1955
2061

1/11

101

1/25

186

12 1 2414
/4
3/15
5/1

594
936

5/3

968

6 2 1383
/1
8 7 1700
/
4/3

2/21
4/12

715

412

8/2

788
1667

9/6
9/18

1873
1946

7/17 1560

21
Pages
Board of Governors: (continued)
Members: (continued)
Vardaman, James K., Jr.: (continued)
Approval of memo re officers' salaries at FRBanks of
Philadelphia, Cleveland, and San Francisco;
matter to be considered in executive session;
memo re emergency plans; and recommendation
for authority to excuse members of staff
under certain conditions
4/17
Article by Doris Fleeson re executive session of
2/6
FOMC, denial of giving out information in
2/21
Assignments of Board members, memo on review of
Budgets of FRBanks, economy in operations needed,
statement re audit control of General
7/19
Accounting Office
Bulletin No. 4 of Voluntary Credit Restraint Com12/20
mittee, statement re proposed revision
Chairmen's Conference, preference for holding
6/19
meetings in Washington or at one of FRBanks
Charge-off of unamortized premium on nonmarketable
2-3/4 per cent bonds, Investment Series
B-1975-801 effect on relationship with
other Federal bank supervisory agencies
questioned
/
73
Committees, opposition to service of staff member
as alternate for Board member on committee
or at meeting
7/24
Conferences of Presidents and Chairmen, opposition
to holding outside of Washington or in con8 1
/6
nection with conventions
Consumer credit statistics, revision, statement re
6/26
purpose of
Consumer credit statistics to be discussed with
12 4
Representative Tackett, statement re
/
9/27
Consumer finances survey, opposed to Seventh
Employments and promotions, question re number of
3/27
recent
Employment of outside economists to appraise problem of consumer and real estate credit
12/4
suggested by
Fauver, Clarke L., appointment as Assistant Director
of Division of Selective Credit Regulation
and salary approved, subject to Board consi3/29
deration again before effective date
Floods in Kansas and Missouri, suggestion for handling of financial assistance to business
7/18
concerns
Foreign missions, requests submitted to Board for,
procedure re not approved by
4/5
Information docket of important matters to be read
12/6
at Board meeting, suggestion for




829
256
422

1583
2466
1366

1478

1615

1757

1426
2354
2012
679

2360

702

1567
729
2368

22
Pages
Board of Governors: (continued)
Members: (continued)
Vardaman, James K., Jr., (continued)
Mergers requiring prior consent of Board, statement
of policy opposed unless concurred in by
FDIC and Comptroller of the Currency
Mergers or absorptions requiring consent of Board,
statement of policy not approved by
Officers in charge of branches, consultation by
Banks with Board before filling position,
letter to FRBanks suggested by
Paraguayan mission, not approved
Press statement, distribution at Board expense not
authorized
Projector, Dorothy South, opinion that appointment
as economist was not essential and urgent
Public debt, discussion at FAC meeting
Public statement re Board and Treasury views on
financing program, memorandum recommending
Puerto Rico, objections to letter and procedure re
mission, similar matters to be discussed
at Board meeting
Quorum, amendments to RegulationW not to be acted
upon in absence of, statement
Quorum at Board meetings, policy actions not to be
taken without, statement
Regulation of consumer and real estate credit,
general discussion re effectiveness desired by
Regulation W, criminal proceedings instead of civil,
suggested by
Regulation W violations, use of administrative proceeding not approved
Regulation W violations, objection to procedure involving reference to Department of Justice
Regulation W and X, enforcement procedure, statement re discussion of cases at Board
meeting
Regulations W and Xy discussion of administration
by FRSystem and suggestions for changes
Reports at regular intervals on consumer, real
estate,and stock market credit suggested
Research activities of Board, statement in connection
with budget for 1952
Retirement system, investment procedure, discussion
of policy
Retirement System, investment procedure, objection
to present policy
Salary increases for official staff, opposed to submission as a group




8/16

1755

9/11

1905

6/26
3/20

1422
624

2/6

254

7/31
11/20

1658
2285

1/30

217

7/26

1625

7/31

1645

8/7

1692

11/13

2232

1/25

186

5/10

1010

6/19

1368

81
/4

1744

12 4
/

2340

4/3

716

12/18

2438

2/1

229

3/9

532

1/11

100

23
Pages
Board of Governors: (continued)
Members: (continued)
Vardaman, James K., Jr., (continued)
Salaries of Reserve Bank officers, special meeting
suggested to discuss question
Salaries of chauffeurs at Board, increase recommended by, matter to be reconsidered
after return of Mr. Evans from Europe
Salary increase recommended for Mr. Sloan
Subpoena power, suggestion that Congress be asked
to give to Board for Clayton Act proceedings
Voluntary credit restraint program, dominant position of FRSystem opposed by
Mimeograph paper, conservation by printing on both sides
Minutes approved:
December 29, 1950
January 2, 1951
January 3,
January 4,
January 5,
January 8,
January 9,
January 10,
January 11,
January 12,
January 15,
January 16,
January 17,
January 18,
January 19,
January 22,
January 23,
January 24,
January 25,
January 26,
January 29,
January 30,
January 31,
February 1,
February 2,
February 5,
February 6,
February 7,
February 8,
February 9,
February 12,
February 13,
February 14,
February 15,
February 16,




4/10

760

11/13
12/20

2223
2471

12/14

2421

4/5
9/11

730
1911

1/2
1/3
1/5

10
17
31
37

1/8

69

1/4
1/9

83

1/10

90

1/11
1/15
1/15
1/16
1/18
1/18
1 19
/
1/22
1/23
1/24
1/25
1/26
1/29
1/30
1/31
2/1
2/2
2/5

107
118
118
132
141
141
149
155
173
179
193
200
208
220
226
230
236
246

2/6

259

2/7
2/8
2/9

264
272
310
321

2/12
2/13
2 1
/4
2/15
2/16
2/19

333
338
349

355
378

24
Pages
Board of Governors: (continued)
Minutes approved: (continued)
February 19, 1951
(With Federal Advisory Council)
February 20,
February 20,
February 21,
February 23,
February 26,
February 27,
February 28,
March 1,
March 2,
March 5,
March 6,
March 7,
March 8,
March 9,
(With Presidents of FRBanks)
March 9,
March 12,
March 13,
March 14,
March 15,
March 16,
March 19,
March 20,
March 21,
March 22,
March 23,
March 26,
March 27,
March 28,
March 29,
March 30,
April 2,
April 3,
April 4,
April 5,
April 6,
April 9,
April 10,
April 11,
April 12,
April 13,
April 16,
April 17,
April 18,
April 19,
April 20,
April 23,
April 24,
April 25,




22
/0
/1
22
22
/1
22
/3
2/26
22
/7
2/28
3/1
/
32
/
3 5
3/6
3/7

3/8
3/9
3/12
3/12
3/13
3/14
3/15
3/16
3/19
3/21
3/21
3/23
3/23
3/26
3/27
3/28
3/29
3/30
4/2
4/3
4/4
/
45
4/6

4/9
4/10
4/11
4/12

4/16
4/16
4/17
4/18
4/20
4/20
4/23
4/24
4/25
4/26

405
422
422
429
437
457
462
471
476
488
498

506
525
547
565
565
572
581
595
604
613
635
635
653
653
668
683
689
703
708
713
720
723
736
745
747
770
777
797
812
812
837
848
863
863
873
888
891
895

25
Pages
Board of Governors: (continued)
Minutes approved: (continued)
April 26, 1951
April 27,
April 30,
May 1,
May 2,
May 3,
May 4,
May 7,
May 8,
May 9,
May 10,
May 11,
May 1
4,
May 15,
(With Federal Advisory Council)
May 15,
May 16,
May 17,
May 18,
May 18,
(With Presidents of FRBanks)
May 21,
May 22,
May 23,
May 24,
May 25,
May 28,
May 29,
May 310
June 1,
June 4,
June 5,
June 6,
June 7,
June 11,
June 12,
June 13,
June 14,
June 15,
June 18,
June 19,
June 20,
June 21,
June 22,
June 25,
Juen 26,
June 27,
June 28,
June 29,




4/30
4/30
5/1
5/2
5/3
5/4
5/7
5/8
5/9
5/10
5/11
5/14
5/15
5/16
5/16
5/17
5/18
5/21
5/21
5/22
5/23
5/25
5/25
5/28
5/29
5/31
61
/
6/4
6/5

911
911
948
952
971
975
984
998
1001
1013
1029
1041
1084
1090
1090
1103
1119
1141
1141
1156
1171
1183
1183
1196
1208
1220
1226
1233
1249

6/6

1257

6 11 1275
/
6 11 1275
/
6 1 1313
/2

61
/4
61
/4
61
/8
61
/8
6/19
62
/0
6/26
62
/6
6/26
62
/6

1337
1337
1355
1355
1373
1379
1426
1427
1427
1427

6 2 1437
/7

6/28 1458
6/29 1460
7/3 1488

26
Pages
Board of Governors: (continued)
Minutes approved: (continued)
July 2, 1951
July 3,

July 5,
July 6,

July 9,
July
July
July
July
July
July
July
July
July
July

10,
11,
12,
13,
16,
17,
18,
19,
20,

23,
July 24,

July 25,
July 26,
July 27,
July 30,
July 31,
August 1,
August 2,
August 3,
August 6,
August 7,
August 8,
August 9,
August 10,
August 13,
August 14,
August 15,
August 16,
August 17,
August 20,
August 21,
August 22,
August 23,
August 24,
August 27,
August 28,
August 29,
August 30,
August 31,
September 4,
September 5,
September 6,
September 7,
September 10,
September 11,



/
7 3 1488
/
7 5 1501
7/10 1517
7/10 1517
7/10 1517
7/11 1525
7/12 1539
7/16 1550
7/16 1550
7/17 1562
7/18 1568
7/19 1588
7/20 1596
7/24 1616
7/24 1616
7/25 1619
7/26 1629
8/1 1665
8/1 1665
8/1 1665
8/1 1665
8/7
87
/
87
/
87
/
89
/
89
/
8 1
/4
81
/4
81
/4
8 15
/
8/16

1700
1700
1700
1700
1718
1718
1747
1747
1747
1750

8/27
8/27
8 2
/7
8/27
8 2
/7
8/27
82
/8
9/4
9/4
9/4
9/4

1822
1822
1822
1822
1822
1822
1840
1859
1859
1859
1859
l864

1764
8 1 1766
/7

(99//56

9/7 1882
9/10 1898
9/11 1916
943 1928

27
Pages
Board of Governors: (continued)
Minutes approved: (continued)
September 12, 1951
September 13,
September 14,
September 17,
(With Federal Advisory Council)
September 18,
September 18,
September 19,
September 20,
September 21,
September 24,
September 25,
September 26,
September 27,
September 28,
October 1,
October 2,
October 3,
(With Presidents of FRBanks)
October 4,
October 4,
October 5,
October 8,
October 9,
October 10,
October 110
October 120
October 15,
October 16,
October 17,
October 18,
October 19,
October 22,
October 23,
October 24,
October 25,
October 26,
October 29,
October 30,
October 31,
November 1,
November 2,
November 5,
November 6,
November 7,
November 8,
November 13,
November 14,
November 151
November 16,
November 19,




9/13

1928

9/14
9/17
9/18
9/19
9/19
9/20
9/21
9/25

1933
1945
1961
1964
1964
1978
1980

9/25
9/27
9/27
10/3
10/3
10/3
10/3
10/4
10/5
10/5
10/11
10/11
10/11
10/11
10/15
10/15
10/16
10/19
10/19
10/19
10/26
10/26
10/26
10/26
10/26
10/30
10/30
10/31
11/1
11 5
/
11/5
11/6
11/7
11/13
11/13
11/14
11/15
11 1
/9
11/19
11/20

2000
2000
2016
2016
2041
2041
2041
2041
2064
2069
2069
2089
2089
2089
2089
2111
2111
2115
2137
2137
2137
2173
2173
2173
2173
2173
2185
2185
2190
2195
2204
2204
2208
2212
2241
2241
2245
2259
2270
2270
2290

28
Pages
Board of Governors: (continued)
Minutes approved: (continued)
November 20, 1951
(lath Federal Advisory Council)
11/21 2293
November 20,
11/21 2293
November 21,
11/23 2298
November 23,
11/28 2312
November 26,
11/28 2312
November 27,
11/28 2312
November 28,
11/29 2323
November 29,
11/30 2327
November 30,
12 3 2331
/
December 3,
12/4 2361
December 4,
12/5 2363
December 5,
12/6 2376
December 6,
12/7 2383
December 7,
12 10 2392
/
December 10,
12 11 2394
/
December 11,
12 12 2397
/
December 12,
12 13 2408
/
December 13,
12/14 2422
December 14,
1 / 7 2431
21
December 17,
12 1 2443
/8
December 18,
1 / 9 2452
2 1
December 19,
12/20 2474
December 20,
12/21 2481
December 21,
12/26 2485
December 26,
12/27 2500
December 27,
12/28 2510
December 28,
12/29 2515
Minutes:
Safe, purchase of additional for storage approved
1/25 199
Policy record:
Draft of entries for 1950 approved
5/10 1024
Regulation A, amendment approved
3/21 637
Regulation F, amendments approved
252
/
25
Regulations T and U, amendment to Supplement to increase
margin requirements
1/16 127
Regulation W:
Amendment No. 2 approved
2/21 419
Amendment No. 3 approved
5/15 1079
Amendment No. 4 approved
7 3 1647
/1
Amendment No. 5 approved
12/20 2462
Amendment No. 6 approved
12/27 2498
Regulation X:
As amended effective January 12, 1951
1/5
38
As amended effective February 15, 1951, approved
2/9
283
Amendment approved
2 2 446
/7
Amendment No. 2 approved
3/15 589
Amendment No. 3 approved
3/29 695
Amendment No. 4 approved
4/10 766
Amendment No. 5 approved
5/3
966




29
Pages
Board of Governors: (continued)
Policy record: (continued)
Regulation X: (continued)
Amendment No. 6 approved
8 2
/8
Amendment No. 7 approved
11/13
Amendment No. 8 approved
12 2
/0
Statement to Treasury re discount rate, request for
cooperation in seeking supplemental
legislation to restrict expansion on bank
credit, and joint statement for press by
Secretary of the Treasury and Chairman of
Board, approval and ratification
3/2
Voluntary Credit Restraint Program approved
3/9
Protective measures for building in event of air raid
warning, memo approved, copies to be sent
to employees
6/4
Rules of Organization and Procedure, amendments re subpoenas and witness fees approved
62
/8
Rules of Procedure, Amendments, statement to be published
in FRBulletin
7/12
S. 1139 to change laws applicable to regulatory agencies of
Government, report sent to Senator McClellan
and Representative Dawson
4/30
Stenographic and typing classes for personnel, organization
by Division of Personnel Administration
approved
10/8
Subpoena power in proceedings under Clayton Act, recommendation of Mr. Vardaman that Congress
be requested to give to
12/14
Suggestion of Mr. Vardampn that Congress be requested
to give to, not approved
12/17
Telegraph Office:
Efficient work, letter of commendation to be sent to
Mr. Ott
12/20
Telephone service for members of staff, Secretary or Assistant Secretary authorized to certify forms
on behalf of Board
11/18
Training program for personnel, discussion, Personnel Committee to study and make recommendation
10/15
8
°gda Motor Company, Inc., Indianapolis, Ind., order directing
investigation for violation of Regulation
Judgment against, for violation of Regulation W
B°egs, Hale, Regulation W, reply to correspondence from Mr.
Lehleitner
Bonds:
Charge-off of unamortized premium on 2-3/4 per cent bonds,
Investment Series B-1975-80, action to be
deferred, not to be made in second quarter
of year, FRBanks to be advised
Defense bond drive, expenses for dinner and luncheon 1713tings for making plans, budget of Division
of Administrative Services to be increased
for



1829
2238
2467

474
534
1240

1453
1544
917
2074
2421
2428

2473

2221
2107

1/30
2/15

353

1/26

205

6/28

1450

213

9/13 1932

30
Pages
Bonds: (continued)
Defense, rates, discussion of increase and possible tax
exemption on income from, at FAC meeting
11/20
International Bank for Reconstruction and Development,
supplement to agreement between FRBank of
New York and
9/7
Municipal, ABA booklet to be published on policies of commercial banks re investments in
5/29
Nonmarketable 2-3/4 per cent Treasury bonds, no objection to
to transfer at par value from individual
trusts to common trust fund in exchange for
participations, advice to FRBank of San
Francisco and other FRBanks
5/10
Investment series B-1975-801 charge-off of unamortized
premium suggested, views of FRBanks requested
6 13
/
Savings:
H. R. 2703 and H.R. 2704, to encourage holding until
maturity, reply to Congressman Multer
3/9
H. R. 2268 to authorize payment of interest after maturity, no objection, report to Bureau of the
Budget
3/16
Regulations on payment, change, advice from Assistant
Secretary of the Treasury
4/20
Sales campaigns of Treasury, expenses, question of payment by Board, discussion, Chairman Martin
to discuss matter further with Mr. Clark
and Secretary Snyder
4/24
Transfer at par value from individual trust estates to
common trust fund in exchange for participations, no objection, advice to FRBank of
San Francisco and other FRBanks
5/10
Promotion of increased sales, discussion at Presidents
Conference, System to continue to study
matter and to make further suggestions
5/18
Statements of Mr. Paul Groszkruger on purchase by public,
reply to Senator Gillette
5/28
Program, expenses for dinners and luncheons, Board to
make no blanket commitment but to assist on
certain occasions, Mr. McDonald to be advised 5/31
Luncheons and dinners for, expenses to be paid by
Board, Mr. McDonald to be advised
7/19
Campaign, FRSystem support requested by Treasury Department, arrangements for
8/16
Treasury, valuation and amortization of 2-3/4 per cent bonds
of 1975-80 received in exchange for 2/1/2
per cent, instructions of FDIC and ruling
by Comptroller of the Currency concurred in
by Board, advice to FRBank of San Francisco
/
61
Unamortized premium on nonmarketable 2-3/4 per cent bonds,
Investment Series B-1975-801 action deferred
pending further study
7/3



2288

1887
1213

1023

1325

550

609
867

884

1023

1134
1205

1218
1586
1762

1228

1478

31
Pages
Bonds: (continued)
Validation procedure for dollar bonds of German issue in
U. S., participation of FRSystem in, advice to State Department
5/9
Booker T. Washington Birthplace Memorial, purchase by FRBanks
of half dollars now held by Mint and others
to be minted requested, not approved, advice to Mr. Phillips
7/12
Boston Gear Works:
Regulation Id, application to Savings and Retirement Fund of 2/27
Bradford, Clarence A., Regulation WI leasing of automobiles by
Automobile Leasing Corporation of Detroit,
8/8
,i5,000 subject to
contracts less than %
8/24
Leasing of automobiles, further corresoondence with
Bradley, Milton P., President of Consumer Bankers Association,
criticism of tiegulation14
10/26
Branch Banking:
Compilation of Federal and State Laws Relating to Branch
Banking within U.S. prepared in Legal
Div., printing and distribution authorized
9/6
FRBulletin, publication of compilation of State laws to
be published in
12/7
Branch banks, domestic:
American Trust Company, San Francisco, Calif., extension
of time to establish branch at Twelfth
and K Streets, Modesto, Calif., approved
1/19
Granted extension of time to establish branch
4/13
Bank of Nutley and First National Bank of Nutley, N. J.,
establishment of branch in connection
with merger, Board approval not required
6 13
/
Bank of San Rafael, California, establishment of branch in
Kentfield, Calif., matter to be discussed
with Mr. Powell
82
/1
Establishment of branch in Kentfield, Calif., not
approved
9/14
Bar Harbor Banking and Trust Company, Bar Harbor, Maine,
removal of branch office on Main Street,
Southwest Harbor, Maine, to more desirable
building, Board approval not required
3/21
Beaver Trust Company, Beaver, Pa., establishment of branch
in Midland, Pa., in connection with absorption of Midland Bank, Midland, Pa., approved
12 19
/
California Bank, Los Angeles, California, granted extension
of time to establish branch in Vernon,
California
4/19
Central Trust Company, Cincinnati, Ohio, granted extension
of time to establish branch in North
College Hill, Hamilton County, Ohio
4/13




1004

1534
459
1707
1820
2169

1880
2391

153

805
1326

1785
1935

636

2454
860

805

32
Pages
Branch banks, domestic: (continued)
Central Valley Bank of California, Richmond, Calif., establishment of branch in Manteca, Calif.,
approved in connection with proposed
merger with Bank of Manteca
10/26
City Bank, Detroit, Michigan, establishment of branch at
Hazel Park, Michigan, following consolidation with Peoples State Bank of Hazel
Park, Mich., approved
12 6
/2
Cleveland Trust Company, Cleveland, Ohio, granted extension of time to establish branch in
Euclid, Ohio
4/23
Establishment of branch in Euclid, Ohio, granted extension of time for
8/31
Establishment of branch near corner of West 210th
Street and Center Ridge Road, in either
Rocky River or Fairview Park, Ohio,
approved
11/6
Colonial Trust Company, Pittsburgh, Penna., granted extension of time to establish branch in
Neville Township, Allegheny County,
Penna.
6/25
Granted extension of time to establish branch in
Neville Township
12/20
Colonial Trust Company, Waterbury, Conn., establishment
of branch in Watertown approved in
connection with merger with Watertown
Trust Company, Watertown, Conn.
5/28
Commerce Union Bank, Nashville, Tenn., establishment of
branch in Woodbine community outside
corporate limits of Nashville, Tenn.,
approved
8/23
Commercial Bank of Oregon, Hillsboro, Oregon, establishment
of branches in Sherwood, West Slope, Balks,
and Vernonia, Oregon, approved
12/7
Commercial Bank of Utah, Spanish Fork, Utah:
Roosevelt, Utah, establishment of branch in connection
with absorption of Roosevelt State Bank
approved
6 13
/
Duchesne, Utah, establishment approved
7/11
Continental State Bank, Boise, Idaho, establishment of
branch in Richfield, Idaho, in connection
with absorption of First State Bank, Richfield, Idaho, approved
12/18
County Trust Company, White Plains, New York, establishment
of branch in Bedford Village, N. Y.,
approved
2/6
Elyria Savings & Trust Company, Elyria, Ohio, granted extension of time to establish branch in
Avon Lake, Ohio
5/3




2174

2486

874
1851

2210

300
2476

1197

1805

2384

1328
1527

2446

261

972

33
Pages
Branch banks, domestic: (continued)
Endicott Trust Company, Endicott, New York, establishment
of branch in Endwell„ New York, approved
10/16
Establishment, restrictive policy proposed by Comptroller
of the Currency
7/5
Establishment of teller's window office by State member
bank, approval not required, advice to
FRBank of San Francisco
2/28
Fidelity Union Trust Company, Newark, N. J., establishment
of branch in Belleville, N. J., and absorption of First National Bank of Belleville without increasing capital approved
3/22
Hartford, Conn., facilities to be provided in
2
/28
Hempstead Bank, Hempstead, New York, establishment of branch
in Bethpage, New York, approved
3/22
Granted extension of time to establish branch at Bethpage, New York
9/7
Industrial Trust Company, Providence, R. I., establishment
of branch in City of Warwick, and additional branches in City of Newport and
Town of East Providence approved
1/12
City of Warwick, R. I., granted extension of time for
establishment
7/11
Legislation on capital of, member banks for establishing,
letter to FRBanks for comments on proposed bill
4/24
Liberty Bank of Buffalo, N. Y., establishment of de novo
branch in Niagara Falls, N. Y., approved
9/14
Liberty National Bank and Trust Company, Louisville, Ky.
financing of branch building, extension
of deadline under Sec. 5(g), not approved
7/11
Lincoln Rochester Trust Company, Rochester, N. Y., establishment of branch in Hammondsport, N. Y.,
approved in connection with absorption of
Bank of Hammondsport
8/29
Manufacturers and Traders Trust Company, Buffalo, N. Y.
establishment of additional branch in
Niagara Falls, N. Y., approved
9/14
Marine Trust Company of Buffalo, New York, granted extension of time to establish branch in
City of Lackawanna, New York
3/28
Granted permission to establish four branches in
Niagara Falls, N. Y., and one branch
each in Lockport, Barker, Wilson, Middleport, Tonawanda, North Tonawanda, Albion
and Medina, N. Y., in connection with
mergers with certain banks
4/11
Marine Trust Company of Western New York, Buffalo, N. Y.
establishment of additional branch in
North Tonawanda, N. Y., approved
9/14




2116
1498

464

645
465
644

1884

114
1527

880
1935
1527

1842

1934
691

778

1934

34
Pages
Branch banks, domestic: (continued)
Montclair Trust Company, Montclair, N. J., establishment
of branch in Verona, N. J., and absorp8/31
tion of Verona Trust Company approved
establishment
Montgomery Trust Company, Norristown, Pa.,
of branch in North Wales, Pa., subject
to absorption of North Wales National
12 0
/2
Bank, approved
Morristown Trust Company, Morristown, New Jersey, establishment of branch in Borough of Morris Plains,
N. J., approved
2/7
Norfolk County Trust Company, Brookline, Mass., granted permission to establish branches in Medfield,
4/10
Westwood, Sharon and East Milton, Mass.
Granted extension of time to establish branches in
10/9
Medfield, Sharon, and East Milton, Mass.
Establishment of branches in Braintree and South
Braintree, Mass., in connection with
absorption of Braintree National Bank,
10/29
Braintree, Mass., approved
R. I.,
Rhode Island Hospital Trust Company, Providence,
application for membership approved and
retention of branches at Newport, Crans10/19
ton and East Providence, R. I., approved
Establishment of two additional branches in Woonsocket,
R. I., approved in connection with ab11/15
sorption of Woonsocket Trust Company
Seattle Trust and Savings Bank, Seattle, Washington, establishment of branch on Aurora Avenue
outside corporate limits of Seattle
approved, authority for branch between
6 19
/
180th and 185th Streets cancelled
Southern Arizona Bank and Trust Company, Tucson, Ariz.,
permission to establish branch outside
corporate limits
/9
61
Southern Commercial and Savings Bank, East Pasadena, Calif.,
establishment of two branches in Long
Beach, Calif., approved in connection
with absorption of Long Beach National
Bank, Long Beach, Calif., and establishment of a branch at San Marino and in
Monterey Park-Garvey-Wilmar area, Los
Angeles County, approved subject to in12 17
/
crease in capital
Sylvania Savings Bank Company, Sylvania, Ohio, extension
of time for establishment of branch in
Village of Trilby, Washington Township,
1
/22
Lucas County, Ohio
)
Teller's window office to be established by State member
bank on parking lot in vicinity of main
office, Board approval not required, ad2/28
vice to RBank of San Francisco




1850

2475
265

773
2078

2180

2143

2261

1375
1376

2433

157

464

35
Pages
Branch banks, domestic: (continued)
Tenafly Trust Company, Tenafly, N. J., establishment of
branch in Dumont, N. J., in connection
with absorption of Dumont National Bank
61
/5
approved
Union Bank of Michigan, Grand Rapids, Mich., absorption of
Rockford State Bank, Rockford, Mich., and
establishment of branch in Rockford ap6
/25
proved
Union Trust Company of Maryland, Baltimore, Md., granted
extension of time to establish branch in
7/6
Dundalk area, Baltimore County, Md.
Union Trust Company of Springfield, Mass., granted extension
of time to establish branch in West Springfield, Mass.
6/19
Granted extension of time to establish branch in West
Springfield, Mass.
11/21
Wachovia Bank and Trust Company, Winston-Salem, North
Carolina, granted extension of time for
establishment of branch at West Ashe2/8
ville, N. C.
Granted extension of time to establish West Asheville
branch
4/3
Charlotte, N. C., establishment of additional branch
at intersection of West Morehead Street
and Walnut Avenue approved
5/28
Granted extension of time to establish branch on West
Morehead Street in Charlotte, N. C.
11/28
Warren Bank and Trust Company, Warren, Pa., establishment
of branches in Tidioute, Pa., and in
Sugar Grove, Pa., in connection with
absorption of Tidioute State Bank,
Tidioute, Pa., and Sugar Grove Savings
Bank, Sugar Grove, Pa., approved
12/26
Wilmington Trust Company, Wilmington, Delaware, granted
extension of time for establishment of
branch in Greenville, Del.
2/2
Granted extension of time for establishment of branch
in Greenville, Del.
8 7
/
Establishment of branch at Milford Crossroads, Delaware,
approved
9/7
Branch banks, FRSystemt
Baltimore:
Staff:
Armstrong, B. F., Assistant Cashier, visit to Mr.
Vineyard to clear up understanding re
terms of Regulation W
1/9
Salary approved
5/15
Hagner, Donald F., Cashier, salary approved
5/15
Salary as Vice President approved
62
/6




1349

1411

1506

1375
2295

278
721

1196
2314

2486

239
1701
1884

85
1o86
1086
1422

36
Pages
Branch banks, FRSystem: (continued)
Baltimore: (continued)
Staff: (continued)
Johnston, John A., Asst. Cashier, salary approved
5/15
6 6
/2
Salary as Cashier approved
Jones, E. Riggs, Jr., FRAgentis Representative,
appointment and salary approved
7/12
Salary approved
12/28
MacSherry, John Hoy designation as special assistant examiner
5/1
Milford, W. R., Vice President, salary approved
5/15
Resignation
6/26
Shipley, Eugene L., FRAgent's Representative,
salary approved
12
/28
Stewart, A. A., Jr., Assistant Cashier, salary
approved
6/26
Wienert, Adolph C., Asst. Cashier, salary approved
5/15
Banking quarters, legislation not to be proposed at this
session of Congress
1/9
Legislation to remove limitation on cost, comments of
FRBanks requested for report on legislative proposals for 1952
11/2
Legislation to increase maximum limitation on cost,
advice to Bureau of the Budget
12/4
Birmingham:
Staff:
Beavers, P.L.T., Vice Pres., and Manager, salary
approved
5/1
Frazer, H. C., Asst. Manager, salary approved
2
/23
Hamilton, C. N., designation as special assistant
examiner
4/18
Mason, George W., FRAgentis Representative, appointment and salary approved
2/26
Salary approved
10/3
McIlwain, Melvin, Assistant Cashier, salary
approved
5/18
Moreland, Hugh, FRAgentis Representative, appointment and salary approved
2/26
Salary approved
4/30
Salary approved
10/3
Urquhart, H. J., Cashier, salary approved
5/1
Buffalo:
Salaries, employees, increase in salary structure
approved
12/12
Staff:
Cameron, Donald J., Acting Asst. Mgr., salary
approved
4/10
Doll, George J., Cashier, salary approved
4/10
Greene, Gerald H., Asst. Cashier, salary approved
4/10
Myers, M. Monroe, Asst. Cashier, salary approved
/0
41
Smith, Insley B., General Manager, salary approved
4/10




1086
1422
1542
2511
949
1086
1422
2511
1422
1086
82

2203
2353

946
431
849
439
2043
1120
439
911
2043
946

2399

763
763
763
763
763

37
Pages
Branch banks, FRSystem: (continued)
Charlotte:
Staff:
Bagby, T. Wesley, FRAgent's Representative, salary
approved
12/28
5/15
Cherry, Robert L., Vice President, salary approved
Honeycutt, Robert L., Asst. Cashier, salary approved
5/15
Keller, Winfred W., FRAgent's Representative,
salary approved
12/28
Ligon, Stanhope A., Cashier, salary approved
5/15
Mondy, E. Clinton, Asst. Cashier, salary approved
5/15
Cincinnati:
Staff:
Benus, Walter H., salary below minimum approved
6/6
Bobinger, William L., designation as special
assistant examiner
1/4
Brehm, Robert J., designation as special assistant
examiner
1/4
Comarata, Vincent J., designation as special
assistant examiner
V4
Fulton, 4. D., Vice President, salary approved
4/17
Salary approved
9/4
Geers, P. J., Asst. Cashier, salary approved
1
/23
Salary approved
4/17
Salary approved
9/4
Harrell, Clyde, Asst. Cashier, salary approved
1/23
Salary approved
9/4
Salary approved
4/17
Hater, Helen, Check Collection Stenographer,
salary below minimum approved for one
additional month
6 19
/
6/6
Hein, Ralph, salary below minimum approved
Johnson, R. G., Asst. Cashier, salary approved
1/23
Salary approved
4/17
Salary approved
9/4
6/6
Kelley, James, salary below minimum approved
Marsh, W. Howard, FRAgent's Representative, salary
approved
10/8
Ostendorf, Harry H., FRAgent's Representative,
salary approved
10/8
Ott, H. N., Cashier, salary approved
4/17
Salary approved
9/4
Wald, Jack, designation as special assistant
examiner
1/4
Walters, Albert L., designation as special
assistant examiner
1/4
Denver:
Salaries, employees, increase in salary structure
approved
12 12
/




2511
1086

1086
2511

1086
1086
1258
32

32

32
832
1857
172

832
1858
172
1858

832
1374
1258
172
832
1858
1258
2072
2072

832
1858

32
32
2401

38
Pages
Branch banks, FRSystem: (continued)
Denver: (continued)
Staff:
Duck, Hubert G., Asst. Cashier, salary approved
Salary approved
Larson, F. H., Cashier, salary approved
Salary approved
Pipkin, G. H., Vice President, retirement age to
be reached in 1951
Retention in service and salary approved
)
Stempel, H. L., Asst. Cashier salary approved
Salary approved
Young, William R., FRAgentis Representative,
salary approved
Detroit:
Banking quarters, building project, increase in allowance for contingencies approved in connection with
Staff:
Bloomfield, R. W., Asst. Vice President, salary
approved
Chalfont, H. J., Vice President, salary approved
Diehl, H. L., Cashier, salary approved
Hackett, Patrick E., designation as special assistant examiner
Jones, Everett D., FRAgentls Representative, salary
approved
Mundt, Grace C. L., inactive membership in Retirement System approved until date of reemployment
Pettke, August J., FRAgentis Representative,
salary approved
Wiegandt, A. J., Asst. Cashier, salary approved
Wisniewski, Margaret T., inactive membership in
Retirement System approved until date of
re-employment
El Paso:
Salaries, employees, salary structure increase approved
Staff:
Arnold, T. C., Assistant Cashier, salary approved
Salary approved
Fraser, C. Hadley, FRAgent's Representative, salary
approved
Salary approved
Garrison, George A., designation as special assistant examiner
Rowland, C. M., Vice President in Charge, salary
approved
Russell, A. E., Cashier, salary approved
Salary approved




1/3
6/12
1
13
6 12
/

20
1310
20
1310

2/9
3/29
1/3
6 12
/

312
705
20
1310

6/22

1401

10/17

2126

24/20

4/10
2/20

407
764
1407

3/6

499

10/8

2073

10/30

2187

10/8
2 2
/0

2073

10/30

2187

12/12

2402

1/3
5/29

21
1211

4o7

4/24

888

12/13

2409

31
/5

598

5/29
1/3
5/29

1211
21
1211

39
Pages
Branch banks, FRSystem: (continued)
Helena:
Staff:
Berglund, H. A., Asst. Cashier, salary approved
Groth, C. W., Vice President, salary approved
Heath, John L., FRAgent's Representative, appointment and salary approved
Salary approved
Salary approved
Powell, L. W., FRAgent's Representative, salary
approved
Salary approved
Houston:
Contribution toward general expenses for annual Convention of American Institute of Banking
approved
Salaries, employees, salary structure increase
approved
Staff:
Boyd, John A., FRAgent's Representative, salary
approved
Salary approved
Davis, H. K., Cashier, salary approved
Salary approved
Holloway, W. H., Vice President in Charge, salary
approved
Troy, B. J., Asst. Cashier, salary approved
Salary approved
Jacksonville:
Staff:
Clark, T. C., Asst. Manager, salary approved
Ford, C. Mason, Asst. Cashier, salary approved
Hicks, William Lester, FRAgent's Representative
appointment and salary approved
Salary approved
Lanford, T. A., Vice President and Manager,
salary approved
Moser, John Richard, Jr., FRAgent's Representative,
appointment and salary approved
Salary approved
Snyder, J. Wyly, Cashier, salary approved
Little Rock:
Budget, expenses in excess of estimate for 1950
approved
Staff:
Bryan, W. J., Asst. Manager, salary approved
Salary approved
Childres, Clay, Assistant Manager, salary approved
Salary approved during retention in active
service




2/13
5/1

335
946

3/15
6/1

598
1227

10/24

2153

6/1
10/24

1227
2153

11/16

2268

12/12

2402

4/24

888

12/13
1/3
5/29

2409
21
1211

5/29
5/29

1211
21
1211

2/23
2/23

431
431

2/26
12/17

2432

5/1

946

/2
2 6
3/23
2/23

440
654

1/22

158

1/25
5/15
5/15

194
1087
1087

10/25

2156

440

1.431

40
Pages
Branch banks, FRSystem: (continued)
Little Rock: (continued)
Staff: (continued)
Dawson, William S., FRAgentls Representative, appoint3/15
ment and salary approved
5/15
Salary approved
Stewart, C. M., Vice President and Manager, salary
5/15
approved
5/15
Wood, Clifford, Asst. Manager, salary approved
Los Angeles:
Banking quarters, addition and alteration project,
status of contract with and fees to
/3
7 1
architect for
Closing on Saturdays during July and August, amendment
/
6 14
to by-laws to permit
Staff:
Blackburn, C. L., designation as special assistant
8/8
examiner
4/17
Bold, F. C., Asst. Manager, salary approved
Cromer, R. C., designation as special assistant
8/8
examiner
assistant
McConnell, J. H., designation as special
8/8
examiner
Asst. Manager, retention in service
Meyer, Leon C.,
V23
after retirement age and salary approved
approved
4/17
Salary
Moss, W. H., designation as special assistant
8/8
examiner
as special assistant
Newton, R. E., designation
8/8
examiner
L., designation as special assistant
Niemi, G.
8/8
examiner
2/21
J. R., Asst. Manager, salary approved
Robinson,
L. R., FRAgent's Representative, salary
Steffer,
6/6
approved
12/19
Salary approved
4/17
Thomas, W. J., Asst. Manager, salary approved
Truelson, P. N., designation as special assistant
8/8
examiner
Volberg, W. F., Vice President and Manager, salary
4/17
approved but at less than recommended
2/21
Watkins, C. H., Asst. Manager, salary approved
Louisville:
Hospitalization, Blue Cross organization, no objection
to assumption of additional expense be12/18
cause of increased rates
Staff:
5/15
Arthur, L. K., Asst. Manager, salary approved
5/15
Burton, Fred, Asst. Manager, salary approved
5/15
Moore, L. S., Asst. Manager, salary approved




597
1088
1087

1087

1661

1341
1707
833
1707
1707
655
833
1707
1707
1707
424
1259

2453
833
1707
830,
833
424

2h45
1087
1087
1087

Li
Pages
Branch banks, FRSystem (continued)
Louisville: (continued)
Staff: (continued)
Parsell, G. H., FRAgent's Representative, salary
12/20
approved
President and Manager,
Schacht, C. A., Vice
5/15
salary approved
Memphis:
Hospitalization, increase in expenses for, no
7/16
objection
Staff:
5/15
Anderson, H. C., Asst. Manager, salary approved
5/15
S. K., Asst. Manager, salary approved
Belcher,
5/15
E., Asst. Manager, salary approved
Martin, C.
Monaghan, Benjamin B., FRAgent's Representative,
2/16
salary approved
/9
41
Salary approved
12 0
/2
Salary approved
Ritzell Carl, FRAgent's Representative, salary
12/20
approved
Schroeder, P. E., Vice President and Manager,
5/15
salary approved
Nashville:
Banking quarters, new building, selection of site and
preliminary plans to be made before request for authorization, Governor Norton
10/1
to be advised of developments
Need for new building, discussion of choice and
11/6
price of sites for
Interstate checks returned for "No account", request
/
by Department of Justice for description of 6 27
Management, supervision, and facilities, discussion of
need for and statement of Mr. Vardaman on 11/6
Staff:
Cullom, Anna Lou, FRAgent's Representative, appoint2/28
ment and salary approved
/3
7 0
Salary approved
Fort, Joel B., Jr., Vice President and Manager,
5/1
salary approved
Payment for accrued vacation leave at time of
12/4
death not approved
5/1
Harrison, E. R., Cashier, salary approved
11/6
Assistant Manager, salary approved
Magee, Stuart H., FRAgent's Representative, ap2/28
pointment and salary approved
6 22
/
Salary approved
10/3
Salary approved
/2
2 3
Moody, R. E., Jr., Asst. Manager, salary approved
Salary as Vice President approved, successor
11/6
to Mr. Fort
approved
/23
2
Starr, L. W., Asst. Cashier, salary
11/6
approved
Salary as Cashier




2475
1087

1552
1087
1087
1087
358
859
2475
2475
1087

2031
2207
1443
2206

463
1642
946
2336
946
2208
463
1402
2042
1431
2207
431
2208

42
Pages
Branch banks, FRSystem: (continued)
Nashville; (continued)
Staff; (continued)
Apiebster, T. L. designation as special assistant
examiner
New Orleans:
Banking quarters, no objection to replacement of
elevator
Expenditure authorized for improvement of air
conditioning equipment
Fiscal agency functions to be performed for Housing
and Home Finance Agency, no objection to
contract submitted by Acting Secretary
of Treasury
Staff:
Bandi, N., FRAgent's Representative, appointment
and salary approved
Salary approved
Chapman, L. Y., Asst. Cashier, salary approved
Ducamus, D. J., FRAgent's Representative, salary
approved
Hoppe, H. B., FRAgent's Representative, salary
approved
Paris, E. P., Vice Pres. and Manager, salary
approved
Sewell, W. H., Cashier, salary approved
Shaw, M. L., Asst. Manager, salary approved
Oklahoma City:
Salaries, employees, increase in salary structure
approved
Staff:
Alexander, F. W. Cashier, salary approved
Salary approved
Chase, David E., FRAgent's Representative, salary
approved
Fritz, F. R, Asst. Cashier, salary approved
Salary approved
Mathes, R. L., Vice President, salary approved
Schmocker, Fred C., Asst. Cashier, salary approved
Salary approved
Omaha:
Salaries, employees, increase in salary structure
approved
Staff:
Berry, U. S., Asst. Cashier, salary approved
Salary approved
Doran, William p., Asst. Cashier, salary approved
Salary approved
Earhart, L. H., Vice President, salary approved
Fairley, William F., FRAgent's Representative,
salary approved




4/18

849

1/3

21

2/2

240

3/2

478

8/21
10/3
2/23

1787
2042
431

8/31

1850

8/31

1850

5/1
22
/3
2/23

946
431
431

12/12

2401

1/3
6 12
/

20
1310

6/22
1/3
6/12
6 12
/
1/3
61
/2

1401
20
1310
1310
20
1310

12/12

2401

1/3
6/12
1/3
61
/2
61
/2

20
1310
20
1310
1310

6/22

1401

43
Pages
Branch banks, FRSystem: (continued)
Omaha: (continued)
Staff: (continued)
Friedebach, J. K., Cashier, salary approved
Salary approved
Refregier, J. V., salary approved
Salary, correction in record
Streeter, Earl O., FRAgent's Representative,
salary approved
Pittsburgh:
Staff:
Cedel, zmil E., designation as special assistant
examiner
Cosgrove, William J., FRAgent's Representative,
salary approved
Foster, A. G., Cashier, salary approved
Salary approved
Kossin, J. W., Vice President, salary approved
Salary approved
Nolte, W. H., Asst. Cashier, salary approved
Salary approved
Salary approved
Powell, Charles A., salary below minimum approved
Price, J. R., Asst. Cashier, salary approved
Salary approved
Salary approved
Schmidt, J. A., Asst. Cashier, salary approved
Salary approved
Salary approved
Steinbrink, R. J., Asst. Cashier, salary approved
Salary approved
Salary approved
Trowbridge, Gordon M., FRAgent's Representative,
salary approved
Portland:
Staff:
Bent, D. E., Asst. Manager, salary approved
Blanchard, J. P., Asst. Manager, salary approved
Retention in service and salary approved
MacEachron, S. A., Vice President and Manager,
salary approved
Randall, J. A., Asst. Manager, salary approved
Risberg, Ernest V., FRAgent's Representative,
appointment and salary approved
Salary approved
Salary approved
Salt Lake City:
Staff:
Anderson, J. B., FRAgent's Representative, salary
approved
Salary approved




1/3
6 12
/
1/14
1/17

20
1310

6/22

1401

1/4
10/8
4/17
9/4

/
4 17
9/4
1/23
4/17
9/4

6/6
1/23
4/17
9/4
1/23
4/17
9/4
1/23
4/17
9/4
10/8

4/17
2/21

8 4
/2
4/17
2/21
1/16

6/6
12 1
/9

6/6
12 19
/

33
139

32
2072
832
1858

832
1858
172
832
1858
1258
172
832
1858
172
832
1858
172
832
1858
2072

833
424
1818

833
424
133
1259
21453

1259

2453

44
Pages
Branch banks, FRSystem: (continued)
Salt Lake City: (continued)
Staff: (continued)
Barglebaugh, E. R., Asst. Manager, salary approved
Barnard, 0. H., Asst. Manager, salary approved
Moyer, L. D., salary below minimum approved
Partner, W. L., Vice President and Manager, salary
approved
Price, A. L., Asst. Manager, salary approved
Simmons, Thomas M., Asst. Manager, salary approved
San Antonio:
Safekeeping, practice of accepting securities from
local member banks for, further advice
requested
Staff:
Eagle, W. E., Vice President in Charge, salary
approved
Magee, F. C., Asst. Cashier, salary approved
Salary approved
Mundt, A. E., Cashier, salary approved
Salary approved
Vaults, crowded condition noted in examination report
Seattle:
Staff:
Berg, A. J., designation as special assistant
examiner
Eden, Mary S., salary below minimum approved
Grimm, Francis K., FRAgent's Representative, appointment and salary approved
Salary approved
Designation as special assistant examiner
Salary approved
Jorgensen, A. K., designation as special assistant
examiner
Leisner, J. M., Vice President and Manager, salary
approved
Russell, B. A., Asst. Manager, salary approved
Retention in service and salary approved
Sandstrom, W. R., Asst. Manager, salary approved
Savery, W., salary below minimum approved
Simms, D. E., Asst. Manager, salary approved
White, J. V., designation as special assistant
examiner
Staff:
FRAgentls Representative, no objection to officer of
branch serving as, if not connected with
money department of branch, advice to
FRBank of Atlanta
Managers, procedure for appointments not to be changed
at present, but plan for Board and
FRBanks to be submitted later




/2
2 1
2/21
2/2

425
425

4/17
2/21
9/6

833
425
1877

5/4

977

5/29

238

1/3
5/29
1/3
5/29

1211
21
1211
21
1211

5/4

977

7/11
z/2

1526
238

3,/16
6/6
7/11
12/19

133
1259
1526
2453

7/11

1526

4/17
2/21
8/24
2/21
2/2
2/21

833
425
1818
425
238
425

7/11

1526

2/26

238

/1
8 2

1786

45
Pages
Branch banks, FRSystem: (continued)
Staff: (continued)
Officers in charge, consultation by Banks with Board
before filling position, letter to
FRBanks re suggested by Mr. Vardaman,
Personnel Committee to consider
suggestion
Branch banks, foreign:
Bank of America, New York:
Duesseldorf, Federal Republic of Germany, establishment authorized
Bank of America N.T.O.A., establishment of branch in
London, England, approved
Bank of Montreal, Canada:
Chicago, Illinois, applicability of Banking Act of
1933, advice requested from FRBank of
Chicago
Chicago Branch, violation of section 21 of Banking Act
of 1933, advice to Attorney General
Violation of section 21 of Banking Act of 1933,
suit filed by Mr. Soble against, further
advice to Attorney General
Bankers Trust Company, New York:
London branch, examination procedure approved
London branch, examination, copies of report sent to
Central Hanover Bank & Trust Company, New York:
London branch, examination procedure approved
Examination, copies of report sent to FRBank of
New York for transmittal
Chase Bank, New York, N. Y.
Hong Kong, discontinuance and liquidation, approval
of Board not required for
Paris branch, examination procedure approved
Examination of, copies of report sent to
Establishment of Sub-Office of Stuttgart, Germany,
branch in Flak-Kaserne in Ludwigsburg,
Germany, approved
Examinations of 'Edge" banks, costs approved
Guaranty Trust Company, New York:
Brussels, London, and Paris branches, examination
procedure approved
Examination of branches in London, Paris, and Brussels,
copies of reports sent to
International Banking Corporation, New York:
London and Paris branches, examination procedure
approved
Copies of examination reports sent to
Morgan el Cie. Inc., New York:
Paris branch, examination procedure approved
Copies of examination report sent to FRBank of
New York for transmittal




6
/26

1422

6/1

1227

9/20

1975

5/14

1046

6 27
/

1439

12/28

2512

4
/27
10/9

910
2081

4/27

910

10/18

2136

1/5
4/27
11/23

65
910
2299

3/19
4/27

614

4/27

910

11 0
/2

2290

4/27
11/28

910
2314

4/27

910

10/24

2154

909

46
Pages
Branch banks, foreign: (continued)
National banks, execution of acceptances by, subject to
requirements of paragraphs 7 and 12 of
section 13 of FRAct, advice to Comptroller
of the Currency
43
/0
National City Bank of New York, N. Y.:
6/21
Havana, Cuba, establishment approved
Puerto Rico, use of armored trucks, question to be
considered further, Board's delegation
to develop further information, advice
to Comptroller of the Currency
7/31
San Juan, Puerto Rico, establishment of branch approved 2/15
Sao Paulo, Brazil, granted extension of time to es8/9
tablish additional branch in
Brazil:
Corporation to be organized to purchase and sell securities,
request of The Chase Bank to purchase and
1/11
hold stock of corporation
Investment by Chase Bank in stock proposed, Board to
approve application subject to certain
4/18
conditions
Application of Chase Bank to purchase stock in proposed corporation, further information
requested before consideration
10/19
Application to purchase stock in corporation approved,
11/13
advice to Mr. Aldrich
Brazil-United States Commission for Economic Development,
Mr. Glaessner granted leave without
8 2
/1
pay to serve as Economic Officer on
Bredenbeck, A. H., Regulation X, lease and purchase option
agreement of firm, inquiry re
8 10
/
Brobeck, Phleger & Harrison, Regulation W, arrangements not
exempt from, advice to FRBank of San
Francisco
2/15
Brooks, Overton, Regulation W, letter from Mr. Phillips of
Motor Securities Company, Inc., Shreveport,
/19
La., on down payments for used automobiles 6
Brown, R. G., Vice President and Trust Officer, National Bank
of Commerce, Memphis, Tenn., advice re
establishment of common trust fund under
degulation F
2/28
Buck, Rowell S., Regulation X, application to loan for combination residence and professional office,
advice to
2/15
Buckner, Hubbard G., Regulation W, investigative procedure to
be discussed by FRBanks of St. Louis with
3/27
Budgets:
Board of Governors, budgetary and salary procedures, statement approved
6 12
/
1951, increase in adjusted budget for salaries approved 7/16




912
1391

1662
351
1720

108
850

2139
2226

1787

1728
352
1376

465
352
686
1302
1553

47
Pages
Budgets: (continued)
Board of Governors: (continued)
1951, to be increased to cover first annual premium
for Board employees under group life
11/1
insurance policy
form and scope
Midyear review of 1951 and proposed
of 1952 budget, memo from Personnel
10/30
Committee
for considera1952, staff to proceed with preparation
tion by Board after return of Mr. Varda10/30
man
Procedure for preparing 1952 budget, review with division heads, matters to be on docket
for meeting on September 20
9/11
12 1
/8
Approved for 1952
services to be increased to
1952 item of personal
)
12/20
cover salary increase for official staff
reception and dinner for, to be
McCabe, Thomas B.,
3/23
increased to cover costs
increase in Stationery and Supplies
Board Members Offices,
1/17
account for 1950 approved
cost of AP Washington News
To be increased to cover
Report service
3/20
increased to cover services of attorney and
To be
legal stenographer to assist Mr. Evans
3/29
in preparation of Transamerica report
in excess of 1951 estimate for Printing
Expenditure
8 28
/
and Binding approved
Increase of 43,000 for salaries and traveling expenses
of hearing examiners borrowed for liegula10/25
tion W hearings approved
Counsel's Office, items of stationery and supplies and
printing and binding to be increased in
1/22
1950 budget
4/25
Traveling expense item to be increased
To be increased to cover cost of printing Compilation
of Federal and State Laws Relating to
9/6
Branch Banking within United States
1951 budget for telephone and telegraph expenses to be
increased
9/11
Division Heads authorized, with consent of Budget Officer,
to make commitments against Division
budgets for following year for routine
purchases and authorization re expenditures
not exceeding 10% in excess of original
budget reaffirmed
10/25
Division of Administrative Services, to be increased to
cover study re active service death
benefits if paid by Board
1/3
To be increased to cover additional cost for film-1/30
Federal Reserve System




2195

2182

2183

1914

2439
2472
666
140
633

699
1841

2155

156
892

1881
1923

2155

24
224

48
Pages
Budgets: (continued)
Division of Administrative Services: (continued)
To be increased to cover cost of reprinting booklet
FRSystem--Its Purposes and Functions
To be increased to cover costs for installation of
car washing facilities in garage
To be increased to cover costs of binders for use
in connection with Loose-Leaf Service
To be increased to cover cost of luncheon, reception,
etc., in connection with taking of oath
of office by Mr. Martin
To be increased to cover costs for printing and distribution of placards for Voluntary
Credit Restraint Program
To be increased to cover cost of luncheons for officials attending meeting of Boards
of Governors of International Bank
and Fund
To be increased to cover cost of dinner and luncheon
meetings to make plans for defense bond
drive
To be increased to cover cost of sound proofing of
ceiling of cafeteria and conversion of
tunnel to storage space
Division of Examinations, to be increased to cover cost
of dinner for Reserve Bank representatives
attending Auditors' Conference
Increase in Miscellaneous Expenses and Telephone and
Telegraph accounts approved
Division of Personnel Administration, to be increased to
cover contribution for Reserve Board
Club picnic
To be increased to cover cost of reception for Mr.
Hilkert
Miscellaneous account to be increased
Uniforms for nurse, increase in amount for
To be increased to pay substitutes for nurse and maid
during short absences for remainder of
1951
Traveling expense account to be increased
To be increased to cover expenses of program for
stenographic and typing classes
Expenses for physical examinations of prospective
FRBank employees by Board's doctor to
be charged to
Increase to cover cost of Christmas party approved
Division of Research and Statistics, to be increased to
cover reimbursement to Survey Research
Center in connection with Survey of
Consumer Finances for 1950




3/1

473

3/13

576

3/14

586

3/23

666

4/5

735

9/5

1870

9/13

1932

9/17

1944

5/22

1162

8 3
/1

1853

61
/

1232

5/28
7/27
8/16

1207
1640
1765

9/14
9/20

1941

1979

10/8

2074

10/12
12/10

2098
2392

3/6

505

49
Pages
Budgets: (continued)
Division of Research and Statistics: (continued)
Cost of special tabulation of 1948 Census of Business
data re consumer credit to be absorbed by
increased to cover revision of consumer credit
To be
statistics
To be increased for cost of printing publication "Development of Bank Debits and Clearings
and Their Use in Economic Analysis", by
George Garvy
Increase in consultants' fund for group on Patman
subcommittee questionnaire approved
Expense for consultants to work on consumer credit
series revision to be charged to
Activities, discussion in connection with 1952 budget
Division of Selective Credit Regulation, to be increased
to cover reimbursement of FRBank of
Philadelphia for services of Messrs.
Benner and Eastburn
1951 budget approved as revised
FRBank of Atlanta, expenses in excess of estimate for
1950 approved
Expenses in excess of estimate for 1951 approved
Expenses in excess of estimate for 1951 approved
FRBank of Boston, approved for 1951, similar letters sent
to other FRBanks
FRBank of Chicago, expenses in excess of estimate for
1951 approved, further advice for year
to be submitted
FRBank of Cleveland, expenses for Regulations V and X
approved for 1951
FRBank of Dallas, expenses in excess of estimate for
1951 budget approved
FRBank of Minneapolis, expenses in excess of estimate for
1951 approved
FRBank of New York to be increased for salaries of employees and for Retirement System contributions
Additional expenses for 1951 budget approved
Approved for 1952, item for proposed film to be discussed by Chairman Martin and Mr. Norton
with Mr. Sproul before commitment
FRBank of Philadelphia, expenses in excess of estimate for
1951 approved
FRBank of Richmond, additional expenses for 1951 budget
approved
Expenses in excess of estimate for 1951 approved
FRBank of St. Louis, expenses in excess of estimate for
1951 approved
FRBank of San Francisco, expenses in excess of estimate
for 1951 approved




6/13

1336

6 2
/6

1423

7/5

1502

10/15

2104

10/26
12 1
/8

2174
2437

1/22
3/2

155
482

1/26
/
8 7
11/29

206
1702
2323

7/19

1585

12/13

2409

1/10

97

10/15

2112

11/29

2323

2/12
2/27

322

459

12/7

2381

11/6

2209

3/8
11/6

526
2210

11/29

2323

11/29

2323

50
Pages
Budgets: (continued)
FRBanks:
1951, approved, with request that current expenditures
be held to minimum and that principle be
7/19
followed in preparation of 1952 budgets
matter on agenda for discus1952, Secretary to place
sion as soon after first of October as
7/19
possible
12/7
1952, approved
Little Rock Branch, expenses in excess of estimate for
1/22
1950 approved
Secretary's Office:
Increase in Printing and Binding account for 1950
1/17
approved
be increased to cover cost of additional safe for
To
1/25
storage of minutes
3/23
increased to cover cost of Recordak equipment
To be
5/16
To be increased 4500 for furniture and equipment
Expenditure in excess of 1951 estimate for Printing
8/28
and Binding approved
To be increased to cover travel expenses and per diem
for Mrs. Pilger during stay at FRBank
11/6
of Atlanta
To be increased to cover per diem and travel expenses
for Mrs. Pilger during assignment at
12/12
FRBank of Atlanta
Solicitor's Office:
To be increased to cover investigation of Fifth Avenue
1/2
Motor Sales, Inc.
To be increased to cover witness fees in Regulation W
hearing of Fifth Avenue Motors, Inc.,
1/12
Columbus, Ohio
1950 budget to be increased in connection with Trans1/19
america case
To be increased to cover expenses for reporting service
in investigation of Roy's Appliance Com1/25
pany, Beloit, Wisconsin
Reporting services in connection with investigation of
1/30
A. Harris Motor Sales to be covered in
Reporting services for investigation of Bogda Motor
1/30
Company, Inc., to be covered by
1951 budget to be increased for furniture and equipment 3/6
5/22
Increases for 1951 approved
Treasury Department:
Expenses for savings bond luncheons and dinners, refer7/19
ence to payment by Board, discussion
Btlecking, George H., Regulation d, comments on terms for auto/2
6 5
mobiles and inflation
Buffett, Howard H., circular questionnaire soliciting comments
re H. R. 324, Gold Standard Act of 1949,
4/5
no official reply to be made by Board




1582

1584
2378
158

140
199

666
1101
1841

2209

2398

10

117
154

185
212
214
505
1161

1587
1415

729

Si
Pages
Building and Loan Associations:
Representation on Voluntary Credit Restraint Committee
suggested
Bulletins:
Voluntary Credit Restraint Committee, copies to be sent
to Board members prior to release for
statement of any objections
Bunn, W. H., Regulation X, inquiry re objectives of registration statement
Bunnell, C. Sterling, appointment as alternate member for Ni'.
George S. Moore on Voluntary Credit
Restraint Committee
Bureau of the Budget:
Assignment of Claims Act of 1940, amendment re guaranteed
loan program recommended, clearance requested from
Proposed amendment to, memorandum of information from
FRBanks on need for sent to
Amendment to, draft sent for clearance of
Amendment to, no objection to presentation to Congress
Bank holding company legislation, report re sent to
Bill to amend section 9 of FRAct and section 5155 of Revised Statutes, etc., draft of letter
to Banking and Currency Committees sent to
Capital requirements of State member banks of FRSystem,
report on draft of bill
Civilian War Relief Act of 1951, report on draft of
Condition reports of State member banks, draft of Form
FR 105 for end-of-year call sent to
Defense housing, draft of bill to assist provision of
housing and community facilities and
services required in connection with
national defense, report sent to
Defense Production Act Amendments of 1951, statement on
consumer credit for inclusion in President's statement on, sent to
Defense Production Act, extension, recommendations re
consumer and real estate credit regulation to be made later, advice to
Department of Agriculture draft proposal to amend Farm
Credit Act of 1933 re commissions on
debentures sold by Central Bank for
Cooperatives, etc., report to
Draft of legislation to provide compensation for war
damage to private property and property
owned by State and local public bodies,
report to
Executive order providing for improvement of work of
Federal Executive Agencies re statistical
information, no comments re




4/5

731

6 12
/

1313

6/11

1291

5/23

1172

1/10

91

1/29
/9
2
2/13
12/4

208
318
328

2353

6 12
/

1315

12/4
7/2

2352
1469

10/10

2085

1/8

71

8 2
/

1667

12/4

2354

5/18

1124

5/23

1173

1/24

183

52
Pages
Bureau of the Budget: (continued)
Executive order delegating certain functions of the President under Defense Production Act of 1950,
small business part in defense production,
6/6
report on
Executive order re loans authorized by section 302 of
6/20
Defense Production Act of 1950, report to
Executive order providing for performance of certain defense housing and community facilities
and services functions, amendment sug9/10
gested, report to
FRBranch buildings, limitation on cost, legislation to
12/4
increase maximum, advice to
FRnotes, paying out by FRBanks, legislation to eliminate
12/4
requirement, advice to
on survey by,
Foreign Service Economic Reporting, report
Board to cooperate in adoption of pro2/13
posed improvements
Revised Statutes re
H. R. 160 to amend section 5192 of
reserves of national banks in Territories
1/24
and possessions of U. S., report sent to
NT&SA, report on 10/25
H. R. 1672, for relief of Bank of America
H. R. 2268, to authorize payment of interest on Series E
savings bonds retained after maturity, no
3/16
objection to, report to
H. R. 3733, to disallow amortization deduction in renegoti5/14
ation of contracts, report on
6/12
Report sent to
H. R. 5278, to ensure that direct loans under Servicemen's
Readjustment Act will be made in areas of
large population where private 4 per centum
10/2
capital is not available, report to
H. R. 5745, to permit Federal National Mortgage Association
to make commitments to purchase certain
10/25
mortgages, report on
of state of war with, no Board authority
Japan, termination
12/18
to expire by treaty of peace, advice to
Legislative program of FRSystem, report sent to Mr. Lawton 12/4
Merger of national banking association, Treasury bill to
7/26
provide for, no objection to, advice to
Renegotiation Act of 1951, request that Board not be
6/4
designated under
12/4
Reserve requirements, legislation re, advice to
Section 5136 of Revised Statutes, draft of bill to amend
re securities issued by Central Bank for
Cooperatives, proposed by Department of
7/19
Agriculture, report to
S. 341, to amend Commodity Exchange Act, no objection to
3/15
enactment, report to
8- 349, Defense Housing and Community Facilities and
8/23
Services Act of 1951, report to




1263
1380

1901

2353
2353
336

180
2158

609
1050
1320

2034

2157

2451
2352
1634

1239
2353

1589
601
1802

Pages
Bureau of the Budget: (continued)
S.3h9: (continued)
Copy of statement for President sent to
S.515, to amend RFC Act, report sent to
S.533, to create Small Defense Plants Corporation and
to preserve small business institutions
and free competitive enterprise, report
sent to
S.611j, to amend Bankhead-Jones Farm Tenant Act, report
sent to
S.684, to amend Bankhead-Jones Farm Tenant Act re
mortgage loans, report to
Report sent to
S.8331 to coordinate small business activities of Government, report sent to
s.9914 to amend section 21 of Bankhead-Jones Farm Tenant
,
Act, similar to section 3 of S.681i, report to
S.998, to amend Assignment of Claims Act of 19h0, and for
other purposes, enactment favored, advice
to
3.1139, Hoover Commission recommendations re regulatory
agencies of Government, report sent to
S.1150, to provide for reorganization of Treasury Department, report sent to
to amend and extend Defense Production Act of 1950
S.17171
and Housing and Rent Act of 19h7, report
to
3.18831 to establish Missouri Valley Authority, report to
Senate Committee on Public Works sent to
to increase lending authority of Export-Import
S.2006,
Bank of Washington, approval recommended
to
S.J.Res.78, to make restrictions of FRAct on holding
office in member bank inapplicable to
M. S. Szymczak when he leaves Board, report to
Survey re nonfarm mortgage lending activities, Board willing to collect data, advice to be sent to
Taxation of banks, study and questionnaire favored by
War Damage Restoration and Rehabilitation Act, report on
draft of
Bureau of the Census:
1948 Census of business data, tabulation to be made to
show amount of credit extended by retail
trade groups
aureau of Engraving and Printing:
Bartz, Charles H., FRExaminer, to participate in assignment of committee, advice to Mr. Hall




8/28
h/23

1828
875

h/12

790

3/26

673

6/6
8/17

1261
1768

h/12

790

6/6

1261

5/3

974

h/18

853

h/23

875

7/30

1642

8/28

1837

9/28

2028

8/7

1700

1/2
12/6

2
2371

7/2

1169

/
6 13

1336

5/3

971

54
Pages
Bureau of Engraving and Printing: (continued)
FRnotes:
Emergency plans, authorization for officers of FRBank
of Richmond to sign requests for delivery,
9/11
advice to
6/21
Printing requirements for fiscal year 1952
3/20
Reserve stock of, advice to Mr. Earhart re status of
amount paid
Reserve stock in process, disposition of
for 1930 stock, views of FRBanks re
5/10
method requested
of
Reserve stock, refund for establishing, method
5/28
adjustment approved, advice to Mr. Foley
education of
Specimen sets requested by Treasury for
public in distinguishing between counter12/18
feit and legitimate currency, advice to
and FRBank notes requested by
Specimen sets of FRnotes
FRBanks of Richmond and Dallas and by
89
/
Board of Governors
to U. S. Depository at Fort
Transfer of vital material
Knox, Ky., report on, Mr. Bartz to be
available for further service on commit6/6
tee
Bureau of Internal Revenue:
McDonnell Aircraft Corporation v. Commissioner of Internal
Revenue, question of appeal of decision
of Tax Court, advice to Office of Defense
6/26
Mobilization
Bureau of the Mint:
Coin shortage, memo of Mr. Leonard on conversation with
10/h
Dr. Howard
issues, opposition to coining, discussion in
Memorial
connection with Booker T. Washington
7/12
Memorial half dollars
Burger, A. C., Regulation WI effects on sales of automobiles,
5/25
reply to letters on
Burman, B. L., Regulation WI inquiry re application to auto7/18
mobile leasing transactions
Busbey, Fred E., Loyalty Board, membership and advice re persons
12/10
having access to files sent to
Business and economic situation during next six months:
Topic for discussion at FAC meeting
5/3
Credit control policies, discussion at meeting of FAC with
5/15
Board
9/15
Topic for discussion at FAC meeting
11/8
Topic for discussion at FAC meeting
Business and economic conditions and System credit policy, discussion at FAC meeting of prospective
loans, FOMC policy, and Voluntary Credit
11/20
Restraint program




1908
1389
633

1022
1198

2h17

1720

1259

1128

20h7

1535

1188
1571

2393
970
105h
1869

2218

2273

55
Pages
BY-laws:
FRBank of Cleveland, amendment to substitute title "General
Auditor" for "Auditor"
FRBank of San Francisco, amendment of Article VII to permit closing head office and Los Angeles
branch on Saturdays, no objection

12/28

2512

/14
6

13/41

5/9

1005

9/11

19011

b/11
9/17

786
19bb

3/9

554

h/13

8o5

8/21
b/18

1769
853

3/8

522

h/17

820

h/2h

883

5/21

11146

3/8
3/13

517
576

4/9

751

10/30

2187

3/22

6146

TICH

Cabot, Thomas B., Director, Division of International Security
Affairs, Department of State, participation of members of Board's staff in
work, advice to
Cafeteria:
Blue Room, reservation by members of Board for luncheon,
memo of Mr. Evans approved
Information in compliance with Sec. 4 of Ceiling Price
Regulation No. 11, supplied to OPS
Sound proofing of ceiling, expenditure approved
Cain, Frank, Regulation W, request of National Used Car
Dealers Association for amendment not approved, advice to
Cain, Senator Harry P.:
Regulation 14, resolution of Washington Association of Roofing, Siding and Insulation Contractors,
Inc., re home improvements and repairs
Regulation Ur, letter from Mr. Adkins re advertisement concerning exemptions for veterans under
section 7(e)(5)
Campbell, R. F., Regulation le4 terms re automobile financing
Canada:
Consumer credit regulation, staff members to visit Eank
of Canada to obtain information on
Consumer credit controls, Messrs. Heath and Shay to report on visit to
Consumer credit regulation, report by Messrs. Heath,
Fauver, and Shay on
C
anfield, Schell, Hannan & Castiello, Washington, D. C., Regulation W, correspondence sent to FRBanks
for confidential information
Capehart, Homer E., Regulation W, consultations with trade
prior to amendment of, reply to letter
from
Car washing facilities, installation in garage approved
Carlton Nash Corporation, sales promotional proposal, application of Regulation W to
Ca
ttle loans, changes in volume and terms, information requested from 1.'1-Tanks
Celler, Emanuel:
Defense production loans, schedule of fees and interest
rates, no change to be made at present,
advice to




56
Pages
Celler, Emanuel: (continued)
Guarantee fees on V-loan guarantees, no change to be
4/11
made at present in schedule, advice to
H.R.1105, to amend Administrative Procedure Act re employment of members, etc., of Government
5/16
agencies, information sent to
Central Bank for Cooperatives:
Department of Agriculture draft proposal to amend Farm
Credit Act of 1933 re commissions on
debentures sold by, report to Bureau
5/18
of the Budget
Central Intelligence Agency:
Application for guarantee of loan to finance contract,
not likely to be considered by guaranteeing agencies, advice to FRBank of San
10/16
Francisco
Economic Intelligence Committee, Messrs. Dembitz and
Ames to represent Board, advice to Mr.
7/19
Jackson
Certificates:
Registrants under Regulation X, reasons and instructions
6/1
for issuing
Ceylon:
Central Bank of Ceylon, request for services of adviser
on problems of commercial bank examination and supervision, advice to FRBank
12/26
of New York
Chapman and Dewey Lumber Company, Memphis, Tenn.:
Regulations W and X, statement re effect on market for
/
8 17
hardwood flooring and southern hardwoods
Charge offs:
FRBank of Boston, charge off of amount to architects in
connection with work omitted from current
12/21
building project approved
FRBank of Cleveland, authorized to charge off architects'
fees for work at Cincinnati Branch which
12/21
was postponed
FRBank of Richmond, authorized to charge off architects'
fees for plans for postponed improvements
12/21
at Baltimore Branch
Nonmarketable 2-3/4 per cent bonds, Investment Series
B-1975-801 charge-off of unamortized
premium suggested, views of FRBanks re6/13
quested
State member banks, investment in bank premises, advice to
4/30
FRBanks
Unamortized premium on 2-3/4 per cent bonds, Investment
Series B-1975-80, action to be deferred
and no charge-off to be made in second
6/28
nuarter of year, FRBanks to be advised




779
1099

1124

2117

1589

1230

207
1772

202
2182
2b82

1325
914

1450

57
Pages
Charge offs: (continued)
Unamortized premium on nonmarketable 2-3/h per cent bonds,
Investment Series B-1975-801 action de7/3
ferred pending further study
on nonmarketable 2-3/h per cent bonds
Unamortized premium
of 1975-80, no further action to be taken
unless consideration desired at Presidents'
8/9
Conference, advice to FRBanks
policy proposed by CompCharters of new banks, restrictive
7/5
troller of the Currency, discussion of
on 5.1883 to establish Missouri
Chavez, Senator Dennis, report
8/28
Valley Authority prepared at request of
Railway Company:
Chesapeake and Ohio
Regulation T, application to Employee's Stock Purchase Plan,
8/17
advice to Mr. Wheeler
Telephone Company of Virginia, Richmond,
Chesapeake and Potomac
Va.:
FRBank of Richmond, establishment of three additional TWX
machines for emergency operation requested 5/3
China Lobby:
Inter-agency committee to study, Mr. Solomon designated to
7/26
serve on
Christmas party, annual party for staff, increase in budget of
Division of Personnel Administration
12/10
approved to cover cost
Chrysler-DeSoto-Dodge-Plymouth Dealers Association, Inc., Regulation 1.4 resolutions for relaxing of
10/23
terms
Anthony P.:
Ciardi,
Merger of Bank of Nutley and First National Bank of
Nutley, N.J., Board approval not re6/13
quired, advice to Congressman Rodino
Service charges of Yantacaw Office of Bank of Nutley, N.J.,
reply to letter sent to Congressman
8/27
Rodino
Circulars, Board of Governors:
Air Force Procurement Offices, revised list of addresses
9/10
and areas serviced sent to FRBanks
advice
Annual reports of holding company affiliates, 1951,
12/20
to FRBanks
models,
Appraisal guides, retail values for 1951 used
advice re date of inclusion requested from
2/19
publishers
copies of
Assignment of Claims Act of 191t0, amendment to,
5/25
Act sent to FRBanks and branches
Executive Order
Atomic Energy Commission designated under
No. 10223 as guaranteeing agency for
defense production loans, advice to
3/15
FRBanks




108

1721
1h98
1837

1769

972

1630

2392

210

1326

1823

1900
2h76

380
1193

602

58
Pages
Circulars, Board of Governors: (continued)
Banking conditions in FRDistricts, quarterly reports to
1/15
be discontinued, advice to FRBanks
adBanking premises, investments by State member banks,
vice to FRBanks re charge-offs and
h/30
Board approval required
7/19
Budgets of FRBanks for 1951 approved
Business advisory committees, utilization and conduct of
since enactment of Defense Production
Act of 1950, advice to FRBanks re complaints and correct procedure re Reguh/11
lation X committees
Capital requirements for membership, draft of bill sent
4/2b
to FRBanks for comments
purCash collateral accounts, considered deposits for
poses of reserve requirements under
8/6
Section 19 of FRAct, advice to FRBanks
Charge off of unamortized premium on nonmarketable 2-3/4
per cent bonds of 1975-80, no further
action to be taken unless consideration
desired at Presidents Conference, advice
8/9
to FRBanks
with Federal Civil
Civil defense, FRBanks to cooperate
1/2
Defense Administration, advice to FRBanks
information needed by
Commercial and industrial loans,
Voluntary Credit Restraint Committee,
3/21
FRBanks requested to send weekly analyses
expense vouchers,
Commodity Credit Corporation reimbursable
request by PMA auditors in connection with
audit of CCC custodian accounts, declined,
14/5
advice to FRBanks
of new investment series of
Common trust funds, valuation
nonmarketable 2-3/4 per cent Treasury
3/21
Bonds, advice to FRBanks
Condition reports:
National and State member banks for Dec. 30, information
in Schedule A, loans and discounts, re1/5
guested from FRBanks
member banks and affiliates, forms for next call,
State
2/1h
copies to be sent to FRBanks
banks, tabulation of material for current loan
Member
3/7
Information, FRBanks requested to make
member banks and affiliates, forms and instrucState
10/12
tions for next call sent to FRBanks
State member banks and affiliates, forms for next
12/3
call sent to FRBanks
of Auditors, to be held in Washington on May
Conference
23-25, advice to FRBanks re agenda and
3/26
plans




120

91h
1585

782
880

1687

1721
16

640

744

639

65
342
510
2096

2333
67h

59
Pages
Circulars, Board of Governors: (continued)
Credit control and debt management, Patman statement re
subcommittee and hearings to be held.
material to be prepared by Board's
Division of Research and Statistics
with assistance of research departments
at Banks, advice to FRBanks
Credit policy and Treasury debt management, views of
Chairmen of FRBanks to be requested
Currency, accumulation of emergency, advice to FRBanks
on retention of unfit
Currency, shipment by Treasury of silver ones to FRBanks
and branches to be held in special
custody account, FRBanks requested to
advise amounts
Defalcations in insured banks, list and chart from FDIC,
copies sent to FRBanks for discussion
of surety coverage with member banks
Defalcation in Syracuse, New York, bank, problem of
audit and internal controls to be studied
Defense production loans, machine tool industry, assistance from (ISA for financing, member banks
to advise financing institutions, information sent to FRBanks
Defense production subcontracts, qualifications imposed by
purchasers in connection with assignments,
copy of memo from Department of Defense
sent to FRBanks and advice re requested
Dividends, semiannual payment approved, advice to FRBanks
Earnings and dividends, FR 107b, forms and instructions
sent to FRBanks for semiannual report
Earnings and dividends reports for 1951, copies of form
FR 107 sent to FRBanks for use of State
member banks
Earnings and expenses of FRBanks for 1950, press statement
re, advice to FRBanks
Emergency plans, FRBank of Richmond to be relocation
center for activities, advice to FRBanks
Examination report of trust departments, revised form,
instructions re, supply of forms to be
sent to FRBanks
Examiners' conference, to be held in Washington on February 8-10, advice to FRBanks
Executive Order No.10281, advice to FRBanks re establishment of Defense Materials Procurement
Agency and designation as guaranteeing
agency under Defense Production Act
Expenses of Board or FRBanks, information requested for
Patman Subcommittee questionnaire




h/12

802

2/27

h56

2/9

312

8/31

1851

5/b

982

8/2

1671

9/2)4

1990

7/3
6/25

11489
1b16

5/31

1220

11/30

2328

1/h

3h

9/11

1909

3/7

515

1/5

6h

8/31

1851

9/12

1925

60
Pages
Circulars, Board of Governors: (continued)
Federal Advisory Council, resolution of Independent
Bankers Association on election of
members and terms of office, comments
5/31
of FRBanks to be requested
6/11
Comments of Directors of FRBanks requested
FRnotes:
Interest payment to Treasury, establishment of rate:
Period ending December 31, 1950, approved, advice
1/2
to FRBanks
h/27
Period ending March 31, 1951, advice to FRBanks
Period of preceding three months, advice to
7/26
FRBanks
10/26
Preceding three months, advice to FRBanks
Requisition of stocks of unissued for shipment to
2 19
/
FRBanks and branches, advice to FRBanks
Reserve stock in process at Bureau of Engraving and
)
Printing not required for 1950 series
disposition of amount paid for 1930
stock, views of FRBanks re method re5/10
quested
First Trust Company of St. Joseph, Missouri, eligible
for membership in FRSystem even though
deposits are not insured by FDIC,
/0
8 2
FRBanks to be advised
existing
Group life insurance policies, continuation of
after effective date of proposed noncontributory group insurance plan, draft
10/15
of letter to FRPanks to be prepared
policy
Existing contracts to be terminated at end of
year in view of new policy, advice to
/6
11 1
FRBanks
advice to
Guarantee agreements, procedure to be followed,
2/5
FRBanks
of FRBanks to be reGuarantee fees on V-loans, comments
quested before consideration of change
2/13
in maximum interest rate and schedule of
of FRBank and branch officials
Identification cards for use
on visits at Board and FRBank and branch
/
8 17
buildings, views of FRBanks requested
section 13bto aid small business
Industrial loans under
man under Regulation V guarantee, comments
1/23
of FRBanks requested
letter to all banks re educational
Inflation, control of,
program of Consumer Credit Committee of
2/12
ABA
designation as Chief FRExaminer, advice
Lang, Arthur H.,
2/20
to FRBanks
of absence with pay to FRBank employees for Community
Leaves
Chest, Red Cross, Infantile Paralysis and
9/25
similar charity drives, advice to FRBanks




1215
1280

13
901
1631
2175

379

1022

1778

2108

2267
250

328

1767

168

32h
1405

2001

61
Pages
Circulars, Board of Governors: (continued)
Loans, cattle, information requested from FRBanks re
10/30
changes in volume and terms
country member banks in places with population
Loans of
under 15,000, FRBanks requested to supply
information for Voluntary Credit Restraint
4/10
Program use
of credit under Section 23A, purchases
Loans and extensions
by member banks of notes of their affiliates
classed as loans or extensions to affiliated
7/31
organizations, advice to FRBanks
increase from 50 to 75 per cent apMargin requirements,
1/16
proved, advice to FRBanks
Marine Midland Corporation admonition re advance notice in
case of future acquisitions, FRBanks to
be advised for discussion of matter with
bank holding companies, draft to be sub12/17
mitted to Board
Mergers requiring consent of Board under section 18(c) of
Federal Deposit Insurance Act, banks to
present plans informally to FRBank of
district before public announcement,
4/24
letter to FRBanks to be prepared
Mergers or consolidations requiring consent of Board, plan
to be submitted to Board prior to publication of proposal, advice to FRBanks
Mergers or absorptions requiring consent of Board, state9/11
ment of policy sent to FRBanks
Nonmarketable 2-3/4 per cent bonds, Investment Series
B-1975-80, charge-off of unamortized
premium suggested views of FRBanks
/
6 13
requested
Open-end investment companies, existing ruling to be made
available to supervisory authorities instead of amending Regulation R, advice
5/14
to FRBanks
Par list, reprinting as of October 1951 approved, advice
8/16
to FRBanks
re
Patman subcommittee questionnaire, further information
10/23
questions on expenses, advice to FRBanks
Policies and procedures applicable to accounting for
guaranteed loan programs, revised directive from Department of Defense re, copies
6/12
sent to FRBanks
Postal money orders, issuance and collection, procedure approved and amendments to provisions of
cash collection circulars and time schedules
6/11
also approved, advice to FRBanks




2187

775

1662
128

2431

887

1905

1325

1047
1765
2150

1321

1277

62
Pages
Circulars, Board of Governors: (continued)
Priorities for materials, machine equipment, etc., Division of Bank Operations to assist in
Washington, to be under supervision of
Mr. Myrick or Mr. Farrell as alternate,
advice to FRBanks
Regional Committees on Defense Mobilization, participation by FRSystem, Presidents of FRBanks
designated for discussions, advice to
FRBanks
Regulation A, Amendment to exempt defense loans from
negotiability requirement approved, advice to FRBanks
Regulation F, amendment to Section 17(c) to increase
limitation on investments in common
trust funds and amendments to Footnotes
11 and 14 approved, supply of revised
regulation to be sent to FRBanks
Q, amendment to permit member banks to pay
Regulation
interest on savings deposits received
during first ten days of calendar month,
comments of FRBanks and information regeneral practices in Districts requested
Regulation RI amendment re interlocking relationships involving open-end investment trusts, comments of FRBanks requested
Regulation T, amendment to relax restrictions on capital
contribution loans made to member firm
of securities exchange by its corporate
affiliate, views of FRBanks requested
Regulation T, Amendment No. 11 approved, advice to FRBanks
Regulation U, interpretation sent to FRBanks, to be published in FRBulletin and Federal Register
Regulation V:
Amendment to standard form of guarantee agreement
approved, advice to FRBanks
Applications for Navy guarantee, procedure for forwarding copies to Board, advice to
FRBanks
Disbursements and collections, copies of certificate
of deposit to be sent to Accounting
Officer for transmittal to Disbursing
Officer, advice to FRBanks on procedure
Forms 577 and 579, copies and instructions sent to
FRBanks
Interest on advance payments made to defense production contractors, advice to FRBanks
Reports of guaranteed loans to be submitted on Form
579, advice to FRBanks
Reports of guaranteed loans, supply of Form FR 579 as
revised and instructions sent to FRBanks




4/2

714

9/19

1967

3/21

637

2/5

252

/5
81

1750

3/20

628

5/11
/8
8 2

1031
1835

12/28

2514

/6
11

134

6/6

1262

7/11

1528

3/12

568

4/17

845

2/1

231

2
/23

433

63
Pages
Circulars, Board of Governors: (continued)
Regulation 14:
A. Harris Motor Sales, issuance of injunction for
violations, press statement sent to
2
/23
FRBanks and Branches
Air Conditioners, room unit, classification does not
include units of 2 horsepower or more
rated capacity, advice to FRBanks
4/25
Amendment No. 2, leasing arrangements, approved,
advice to FRBanks and Branches
2 1
/2
Amendment No. 2, leasing arrangements, memoranda for
confidential background information sent
to FRBanks
3/2
Amendment No. 2 re leasing arrangements, summary of
interpretations and amendment sent to
FRBanks
3/7
Amendment No. 3 approved, to be sent with press statement to FRBanks for printing and distribution
5/15
Amendment No. 4 approved, press statement to be sent
to FRBanks, amended Regulation to be reprinted and distributed
7/31
Amendment No. 5 approved, FRBanks to be advised
12/20
Application to refinancing of balloon notes, advice
to FRBanks
6 15
/
Appraisal guides, designation of Red Book National
Used Car Market Report and Blue BookExecutives Edition amended, advice to
FRBanks
2/1
Appraisal guides, designation of March and January
issues approved for price ceiling
regulation, advice to FRBanks
3/8
Appraisal guides, designation limited to editions
and reprints approved by OPS, advice to
FRBanks
3/30
Appraisal guide value of used cars, addition of value
for radio and heater not to be made for
computation of maximum loan value, advice
to FRBanks
4/13
Appraisal guides, estimate of up-to-date, current
average retail values to be published,
but at present values to be based on
prices approved by OPS, advice to
FRBanks
5/24
Articles sold in connection with suction cleaners,
advice to FRBanks re application
8/20
Bogda Motor Company, Inc., judgment against for violation, press statement sent to FRBanks
2/15
Canfield, Schell, Hannan & Castiello, Washington, D.C.,
confidential information re correspondence
sent to FRBanks
5/21




434

891
419

478

512

1079

I650
2462
1350

231

527

711

810

1181
1781

353
1146

64
Pages
Circulars, Board of Governors: (continued)
Regulation W: (continued)
Cash allowances by Registrants for articles traded in
by customers, advice to FRBanks
5/24
Conference, System to be held in September instead of
regional, comments and suggestions for
agenda requested of FRBanks
8 10
/
Conference, copies of agenda sent to FRBanks, comments requested
8/28
Connecting pipes or tiles classed as listed articles,
advice to FRBanks
1/9
Cooking stoves and ranges, revision of summary re,
advice to FRBanks
6 13
/
Crosley Farm 0 Road not included under classification
automobiles, advice to FRBanks
3 13
/
Designation of appraisal guides for Part 4 of Supplement, advice to FRBanks and to publishers
of guides
2/23
Disaster credits, amendment to section 7(j), explanation and principles re, advice to FRBanks
6 6
/2
Disciplinary conference for willful violators, clarification of Section II, 2 of Outline Enforcement Program, advice to FRBanks
9/26
Down payment on new article, use of full payment previously received for cash sale of used
article of same kind, advice to FRBanks
7/13
Down payment requirements under Amendment No. 4, draft
of interpretation sent to FRBanks for
comments
8/I0
Duke Randall Motors, Inc., San Pedro, Calif., judgment
against, press statement sent to FRBanks
and Branches
2/26
Enforcement program, second disciplinary conference,
advice to FRBanks re holding
1/5
Enforcement program, exchange of information between
FRBanks or branches and FHA offices,
advice to FRBanks re procedure
4/13
Evaporative air coolers not incorporating refrigerating
unit, not considered air conditioners,
room unit, advice to FRBanks
2/27
Exemptions in principal amount exceeding 45,000 for
automobiles, and 42,500 in other cases,
advice to FRBanks
5/28
Fifth Avenue Motors, Inc., Columbus, Ohio, judgment
against, press statement to be issued,
advice to FRBanks
1/18
Floor or wall furnaces, advice to FRBanks re application to
12/26
Free gifts, rebates or discounts, application to sale
of 0.00 certificate redeemable at grocery
store in combination with sale of $400
television set, advice to FRBanks
6 11
/



1176

1726
1841

89
1330
574
433

1429
2008

1548
1726
441
67

806
460

1201

146

21488

1285

65
Pages
Circulars, Board of Governors: (continued)
Regulation W: (continued)
Free merchandise and rebates, revision of summary,
6/6
advice to FRBanks
Free merchandise and rebates, revised published
summary, further information, advice
6/6
to FRBanks
7/18
Lay-away plans, advice to FRBanks
Lease of automobiles to construction company for use
on construction contract with U. S.
Government, exempt under section 7(d),
8/20
advice to FRBanks
Leasing of listed articles for indefinite periods at
uniform monthly rentals payable in advance, advice to FRBanks
4/13
Liaison committee of National Retail Credit Association, Board not in favor of, advice to
1/10
FRBanks
Loan to pay off Group D obligation held by another
1/8
Registrant, advice to FRBanks
Marvin A. Smith Company, Dallas, Texas, issuance of
injunction against, text of press statement sent to FRBanks and branches
3/9
Medical loan, renewals of unpaid balance, advice to
FRBanks, comments requested
7/18
Merchandise certificates to be awarded as prizes on
sales promotion program, status of, ad12/7
vice to FRBanks
,
Delivery Man", classifiNash Rambler model called '
10/22
cation of, advice to FRBanks
Ogden Auto Mart, Inc., Chicago, Ill., issuance of
injunction, advice to FRBanks and
branches
3/30
Pre-effective date balloon notes or payments, revised
interpretation, advice to FRBanks
5/31
Purchase or lease of same article at conclusion of instalment rental transaction, advice to
3/26
FRBanks
Refund of portion of finance charges, sales promotional
proposal of Registrant, advice to FRBanks
81
/5
Registration statements, information requested under
Section IV to be furnished, advice to
FRBanks
3/15
Registration Statement, advice to FRBanks re procedure
for filing and completion of information on 4/13
Registration statements, statistical data required on,
matter left to discretion of FRBanks, advice to FRBanks
9/28
Relaxation of terms, especially for automobiles, advice
to FRBanks re meeting held and request for
views on
2/27




1264

1265
1574

1780

808
95
73

555
1576

2385
2145

711
1221

669
1752

598
807

2029

1460

66
Pages
Circulars, Board of Governors: (continued)
Regulation W: (continued)
Required deposit in lease of automobile, advice to
FRBanks re computation
8 3
/0
Roy's Appliance Company, judgment against, press
2/2
statement sent to FRBanks
Sales inducement in advertisement re purchase of new
$2,700 automobile, advice to be sent
7/11
to YRBanks
Section 6(f), applicability to free trial or demon1/8
stration arrangements, advice to FRBanks
Section 7(h)(3), exemption of credit subjected to
2/8
Regulation X, advice to FRBanks
2/13
Sedan delivery classified as truck, advice to FRBanks
Serviceman's pre-induction debt, application of
2/16
section 5(c)(2), advice to FRBanks
4/10
Stroll-0-Chair, application to, advice to FRBanks
Suction cleaners, status of devices or attachments
usable in connection with, advice to
61
/4
FRBanks
Summaries of interpretations, advice to FRBanks re
omissions
3/5
Trade-in, effect on down payment requirement, advice
2/1
to FRBanks
Trade-ins, W-146 no longer effective following enactment of Defense Production Act Amendments
8 20
/
of 1951, advice to FRBanks
Trade-ins, interpretation, press statement, and letter
9/7
sent to FRBanks
Trade-in allowance, question of rebate of part, advice
10/2
to FRBanks re final decision
Verification of loan value, revision of summary re
12/28
sent to FRBanks
Veterans' exemptions, discussion with VA, summary sent
1/15
to FRBanks
Regulations W and X:
Enforcement programs, duplicate of transmittal letter
and reports of investigation to be sent
to Board, advice to FRBanks
5/9
Identification certificates for investigators, advice
to FRBanks re change in wording because
8/2
of extension of Defense Production Act
conferences, to be held in June, advice to
Regional
5/7
FRBanks on schedule
Regional conferences, rescheduled for September,
5/22
advice to FRBanks
System conference, to be held September 12-14, advice
8/23
to FRBanks
of holding future and types of
Conferences, question
meetings, comments of FRBanks requested
10/3
Conferences, to be held in 1952, advice to FRBanks
10/31




1844
242

1531

75
279
336
360

775
1342
491
233

1780
1889
2034
2513
121

1003

1676
986
1150
1810
2043
2191

67
Pages
Circulars, Board of Governors: (continued)
Regulation X:
Actual date such credit is extended, interpretation
of phrase in section 6(i), views of
2/21
FRBanks requested
3/6
Advice to FRBanks re meaning of phrase
5/114
Agents for lenders, advice to FRBanks re status of
Amendment to cover nonresidential property to be effec2/9
tive February 15, 1951, advice to FRBanks
Amendment to Section 6, defense construction, approved,
2/27
advice to FRBanks and Branches
Amendment re defense construction, procedure re ap3/6
proved, advice to FRBanks
Amendment for hardship exemptions, views of FRBanks
3/8
requested
Amendment No. 2, text and press release to be sent to
3/15
FRBanks for printing and distribution
Amendment No. 3 approved, text of amendment and press
release sent to FRBanks for printing and
3/29
distribution
4/10
Amendment No. 4 approved, advice to FRBanks
Press statement not to be issued, advice to FRBanks 4/12
Amendment re leasing arrangements, copy sent to FRBanks
4/17
for comments
Amendment No. 5 approved, press release to be sent to
FRBanks for printing and distribution
5/3
Amendment No. 6 approved, text and press release to be
sent to FRBanks and negatives of reprinted
8/28
regulation to be forwarded
Amendment proposed re unavoidable sales delay, comments
10/2
of FRBanks requested
Amendment proposed re leases on nonresidential property,
11/21
comments requested
Amendment No. 7, advice to FRBanks re, information on
secondary credit exemptions requested in
connection with monthly enforcement
12/20
reports
/2
12 0
Amendment No. 8 approved, FRBanks to be advised
Amortization payments where maturity of credit is less
than maximum permitted by regulation,
2/23
advice to FRBanks
5/1
Animal hospitals, application to, advice to FRBanks
Application to loans re programs of Commodity Credit
1/4
Corporation, advice to FRBanks
Application of Section 2(i)(2)(B) to extension of credit
more than one year after acquisition of
/
6 12
property, advice to FRBanks
7/17
Application of sales of dining cars, advice to FRBanks
Appraised value where there is to be construction on
3/6
improved real property, advice to FRBanks




427
504
1051
309
4149
503
528
590

696
767
802
8142
966

1829
2037
2296

2478
2467

435
951
36

1318
1563
502

68
Pages
Circulars, Board of Governors: (Continued)
Regulation X: (continued)
As amended effective January 12, 1)51, advice to
1/5
FRBanks and Branches
revised forms to be sent to
Borrower's statements,
FRBanks as soon as cleared with necessary
1/15
authorities
construction in conChurch units, applicability to new
5/15
nection with, advice to FRBanks
Conference, copies of agenda to be sent to FRBanks
8/28
later
acquired more than
Construction of residence on lot
12 months ago, determination of value,
5/16
advice to FRBanks
Cooperative developments, borrowing for purchase of
3/23
shares subject to, advice to FRBanks
Credit extended pursuant to firm commitments, applicability to financing arrangements previously
contemplated or arranged, advice to
3/23
FRBanks
Definition of nonresidential structure, views of
3/26
FRBanks requested
Enforcement, compliance of insurance companies, investigative procedure approved, advice to
FRBanks
1/10
Enforcement report, draft sent to FRBanks for comments
4/17
Enforcement activities, form FR 566, copies and instructions sent to FRBanks
6 13
/
section 5(e) applicable to tenants as well
Exemption in
as owners of destroyed or damaged structures
81
/
advice to FRBanks
Exemptions in connection with eminent domain, condemnation or foreclosure proceedings, applicability of sections 5(e) and 6(e), advice
to FRBanks
13,/30
Exemption of buildings essential to operation of churches,
schools, and hospitals, comnents of FRBanks
requested
12/7
Extensions of credit after 32-day period, advice to
FRBanks re section 5(k)
7/31
Factors supporting current levels of housing starts,
3/8
views of FRBanks requested
Farm property structures, advice to FRBanks re application
14/9
Identification certificates, text approved by Board,
advice to FRBanks
1/10
Installation of heating, cooling, and ventilating
equipment, determination as major improvement under section 2(g), advice to
FRBanks
10/17




61
123
1088

1841
1098
657

659
671

93
84i

1335
1666

2330

2389
1664
529

753
92

2128

69
Pages
Circulars, Board of Governors: (continued)
Regulation X: (continued)
Interstate trucking business, only common carriers
classed as public utilities under
sections 2(s), advice to FRBanks
Investigation of branch offices of insurance companies
for compliance, procedure re, advice to
FRBanks
Leasing arrangements, advice to be given registrants
pending adoption of proposed amendment,
information sent to FRBanks
Maximum loan values in Supplement, advice to FRBanks
Medical centers, clinics, etc., considered hospitals
under, advice to FRBanks
Newspaper structure, application to, advice to FRBanks
Public warehouse used for storage of grain and other
foodstuffs, not classed as public utility
under section 2(s), advice to FRBanks
Radio and television buildings are nonresidential
structures under section 2(r), advice to
FRBanks
Registration certificate, form and suggestions for
editing, coding, and mechanical processing of information sent to FRBanks
Registration statements not required to be filed by
lenders of credit in territories a.ld
possessions of U. S., advice to FRBanks
Revision, advice to FRBanks re proposed provision
Revision to include non-residential property, comments
re proposed amendments requested from
FRBanks
Revised statements of Borrowers, copies sent to FRBanks
Sales of new construction by individuals who purchased
property on terms under, FRBanks to be
advised
Section 5(b)1 renewal of note having maturity of not
more than eighteen months, advice to
FRBanks
Section 5(g), monthly- reports to be made instead of
weekly, advice to FRBanks
Statements of borrowers re real estate credit, revised
form, copies sent to FRBanks
Structures for processing of food products, applicability of Section 2(r)(5), advice to
FRBanks
Structure, definition of, advice to FRBanks
Survey of building and mortgage lending field to be
made, advice to FRBanks
System conference, agenda sent to FRBanks
Time limit as shown in clause (2) of section 6(b),
advice to FRBanks re extension of cut-off
date




3/12

569

3/23

659

4/30
1/11

926
110

11/15
5/1

2263
950

5/11

1038

3/8

530

61
/

1230

6 19
/
1/2

1378
14

1/23
1/25

176
199

5/11

1035

5/25

1191

1/23

175

2/14

341

3/23
7/18

658
1580

1 22
/
9/7

158
1896

2/16

361

70
Pages
Circulars, Board of Governors: (continued)
Regulation X: (continued)
Warehouses and office buildings used in connection
with manufacturing business, advice to
FRBanks re applicability of
3/2
Clarification of provisions re, advice to FRBanks
3/13
Written minutes not sufficient to establish written
agreement under clause (1) of section
6(b) advice to FRBanks
3/26
Resale agreement, minimum rate for FRBank of New York on
purchases of not more than 1/8 per cent
below average issuing rate on most recent
issue of three month Treasury bills approved, advice to FRBanks
10/12
Reserve and central reserve cities, designations, continuance of all except for three, advice
to FRBanks
2/19
Reserve requirements of State commercial banks and trust
companies as of February 1, 1951, verification of data and information re changes
in regulations requested of FRBanks
2/20
Reserve requirements, draft bills on supplemental authority,
comments requested from FRBanks
5/23
Rules of Organization and Procedure, amendments re subpoenas
and witness fees approved, FRBanks to be
advised
6
/28
Safekeeping of securities for member banks, policy reaffirmed
at Presidents Conference
5/2
Savings bond campaign, letters being prepared to be sent to
Chairmen and Presidents of FRBanks
8/16
Section 13b of FRAct, participations by FRBanks for financing defense contractors under, advice
to FRBanks
6 2
/5
Service charges imposed by OPS when nonpar banks are added
to par list or become members of FRSystem,
advice to FRBanks
7/25
State of Union Message and Economic Report of President
for 1952, special presidential messages
and legislative proposals for next session
of Congress, statement of suggestions requested by President, comments of Chairmen
and Presidents desired
11/2
Statistics on commercial and industrial loans, standard
procedure for collecting as Shown in memo
and form FR 416a, advice to FRBanks
5/1
Taxation of banks, study re effect on capital position
approved, advice to FRBanks re questionnaire and arrangements for
12/6
Technical assistance in foreign area, information re
personnel for future assignments requested
again from FRBanks of Boston, Cleveland,
Atlanta, Kansas City, Dallas, and
San Francisco
1/18



479
575
670

2092

371

407
1170

1456
956

1762
1413

1620

2202

949

2373

142

71
Pages
Circulars, Board of Governors: (continued)
Treasury bonds not yet eligible for purchase, acquisition
by commercial banks, violations of regulations re to be reported, advice to FRBanks 8/24
Trust Examinersi Conference, to be held at FRBank of New
1/12
York, February 1-3, advice to FRBanks
of U. S.
Trust fund, common, no objection to transfer
savings bonds and 2-3/4 per cent nonmarketable Treasury bonds at par value
5/10
to, advice to FRBanks
proposed
V-loan applications, financial statements of all
guarantors to be submitted with, FRBanks
advised re ruling of Department of Air
7/10
Force
number of
Reports of investigation to include data on
9/21
employees of borrower, advice to FRBanks
criteria and principles
V-loan guarantees, statements of
from National Security Resources Board,
1/15
copy sent to FRBanks
of effective time of Army, Navy and Air
Extension
7/18
Force authorizations, advice to FRBanks
V-loan program, need for amendment to Assignment of Claims
1/22
Act, information requested from FRBanks
Comments of FRBanks requested re maximum interest
2/15
rates and schedule of fees
V-loans, termination fees, premium or fee on account of
prepayment, service fees, etc., prohibited,
2/8
advice to FRBanks
V-loan guarantee agreement, compliance of form with Exception 10 to section 5200 of Revised Statutes
and when to be considered "unconditional",
copy of letter from Deputy Comptroller of
the Currency sent to FRBanks
4/9
Amendment to standard form, interpretation re, advice
4/17
to FRBanks
Applications, procedure for listing numbers of prime
contracts, further advice from Department
of Army sent to FRBanks
14/25
Applications for guarantees, procedure for forwarding
4/10
Air Force, advice to FRBanks
Policy statements re certain questions, advice to
FRBanks
4/17
Program of General Services Administration, Comptrollers'
Order No. 50 re policies and procedures,
4/30
copy sent to FRBanks
Cases where loan agreement permits borrowings from
financing institution outside proposed
V-loan, memo from Defense Department,
4/27
advice to FRBanks
Amount and maturity, memo from Department of Defense
on guiding principles sent to FRBanks
5/3




1819
114

1023

1521
1982

121
1571
160
351

279

748

842
891

774
843

922

902

973

Circulars, Board of Governors: (continued)
V-loan guarantee agreement: (continued)
Compensation paid to executives, memo from Department
of Defense sent to FRBanks
Financing for manufacturers of machine tool pool
orders, information from GSA re procedure
for, advice to FRBanks
Guaranteed by Military Departments, memo from office
of Asst. Sec. of Defense re procedure
for effecting increases in amount or
changes in terms and conditions, advice
to FRBanks
Statistics, number of employees of borrowers requested
on FR 577, advice to FRBanks
Commitment fees not to exceed 1/2 of 1 per cent per
annum of average daily unused balance of
maximum principal amount of credit, advice
to FRBanks
Practices and procedures of FRBanks in establishment
and supervision of, narrative descriptions to be furnished to Department of
Defense, advice to FRBanks
Voluntary agreements, Program for Credit Restraint
approved, advice to FRBanks re procedure
Changes in program, advice of FRBanks re amendment on
FRBanks representation on subcommittees
requested
Voluntary Credit Restraint Program and Request, advice to
all financing institutions in U. S.
Expenses, advice to FRBank re absorption of incidental
Weekly reports on commercial and industrial loans, information re outstanding commitments and loans
requested, advice to FRBanks
Civ,
-L1 Defense Organivation:
Board, Messrs. Bethea and Kelleher authorized to act in
local matters, advice to GSA
FRBanks to cooperate with Federal Civil Defense Administration
Ci •
v11 Service Commission:
Pair Employment Board, request that all agencies revise
procedures and regulations for handling
comolaints
Sprecher, H. F., Jr., designation as Fair Employment
Officer, advice to
Pair employment practices, revised statement of Board procedures approved, copy to be sent to
Fair Employment Board
Federal Personnel Council, designation of Messrs. Alien
and Sprecher as representative and alternate to




72
Pages

5/3

973

5/7

988

9/6

1878

9/7

1888

10/4

2065

11/20

2292

2/7

266

3/2

480

3/9
4/17

543
829

5/14

1044

7/20

1598

1/2

4/24

16

889

8/3

1681

9/18

1962

12/21

2483

73
rages
Civil Service Commission: (continued)
Longevity increases, amendment to rules to provide for
crediting of any excess service toward
next step increase approved
5/16
Loyalty Review Board, application to Federal Emplueesi
Loyalty Program to officers and employees
of defense organizations at Board, advice
1/30
re
Regulation W hearing, services of Mr. James J. Fitzpatrick,
9/28
hearing examiner of NLRB, requested
Retirement Act, amendment to permit Board members to become
members of Retirement System of FRBanks,
Messrs. Carpenter and Hilkert to study
1/25
matter
Teegaraen, Harold B., Hearing Examiner, GS-le, services requested for directing hearing on Regulation
5/17
W violations
W. Turner, Regulation W, credit cards issued by oil com1/11
panies, reply to letter
Clark, John P., Regulation X, inquiry re proposed building to
be leased in part to Governmental
8/23
agencies
ClaYton Act:
Marine Midland Corporation, Jersey City, N. J., application
to vote stock of National Chautauqua
12/6
County Bank of Jamestown, N. Y.
Application for general permit covering stock of National Chautauqua County Bank of Jamestown, N.Y.,
to effect consolidation with Union Trust
Company of Jamestown, New York, application
of Section 7, action to be postponed until
12/14
Board meeting on Dec. 17
No decision re application to issuance of general voting
permit covering stock of National Chautau12/17
qua County Bank of Jamestown, N. Y.
Subpoena power in proceedings under, recommendation of
Mr. Varaaman that Congress be requested to
12/14
give to Board
Suggestion of Mr. Vardaman that Congress be requested
12/17
to give to Board, not approved
Clearing and Collection:
Indirect payment of interest on demand deposits, question
of violation by national bank of Regulation
Q, advice to Comptroller of the Currency
9/7
Interstate checks returned for "No account", Nashville Branch
requested to furnish Department of Justice
6 2
/7
with description of
Kiting of checks by George Henry Lane, Jr., between accounts
at First Security Bank of Idaho, National
Asl,ociation, Boise, Idaho, and Continental
State Bank, Boise, Idaho, not violation of
Federal criminal statute, advice to Department of Justice
7/18



1101

221
2028

186

1107
109

1813

2367

2417

2425

2421
2428

1887

1443

1570

Clearing and Collection: (continued)
Par list, reprinting as of October 1951 approved,
advice to FRBanks
Post Office funds deposited with FRBanks and branches
through use of registered mail, report of
Presidents Conference approved, advice to
Post Office Department
Postal money orders:
IBM equipment for processing, Defense Order ratings
for manufacture of 81 machines for FRBanks
requested
Issuance and collection, procedure approved and amendments to provisions of cash collection
circulars and time schedules also approved,
advice to FRBanks
Issuance, reimbursement to FRBanks for cost of work,
adjustment in rate to be made after first
year, advice to Postmaster General
Service charges imposed by OPS when nonpar banks are
added to par list or become members of
FRSystem, advice to FRBank of Minneapolis
Service charges imposed by OPS when nonpar banks are
added to par list or become members of
FRSystem, advice to FRBanks
Service charges of Bank of Nutley, N. J., reply to letter
from Mr. Ciardi sent to Congressmen
Rodino
Service charges as substitute for exchange charges, request of Farmers & Merchants Bank, Wessington Springs, S. D., in order to be added
to par list, letter from Mr. Bunday referred to Office Price Stabilization
Time deposits, inconsistency in definitions of types, to
be considered when revision of Regulation
Q occurs, advice to FRBank of New York
00ehran
00imm: , William A., Regulation X, reply to letter re terms of

74
Pages

8 1
/6

1765

10/10

2085

5/4

978

6 1
/1

1277

62
/7

1441

7/6

1506

7/25

1620

8 2
/7

1823

8 2
/7

1824

6/11
2/12

1282
324

Circulation, reply to Acting Director of Mint on campaign
to get coins back in circulation
4/30
Nickels, shortage of, letter to Senator Lehman on
9/7
Pennies, shortage of, letter to Congressman Ernest Greenwood on
9/7
Shortage of, letter to Mr. Earhart on letter of Mrs. Ross
to FRBanks
9/5
Shortage of, discussion at Presidents Conference of inabilg
ity of Treasury to meet FRBank requirements,
memo of Mr. Leonard
10/4
Shortages, reference to discussion at Presidents Conference,
staff to keep in touch with Treasury Department
10/15
et31()rado Springs, Colorado, designation as defense area
5/3




913
1885
1885
1865

2046

2106
963

75
Pages
C°14111ercial and Financial Chronicle, letter to Mr. Walter Spahr
3/29
on articles on interest charges on FRnotes
ecnraittees:
Active service death benefit, to negotiate contract uith in7/17
surance company after approval by FRBanks
Ad hoc System subcommittee to direct study of impact of excess profits taxes on banks, Mr. Erickson
11/14
to designate members
Committee on Bank Supervision, membership, duties
Advisory
5/23
and meetings approved
for Chairman or Board member, opposition.of Mr.
Alternate
7/24
Vardaman for staff member serving as
American Bankers Association, special committee of National
Bank Division to publish booklet on policies of commercial banks re investments
5/29
in municipal bonds
Business advisory committees, utilization and conduct of
since enactment of Defense Production Act
of 1950, reply to Asst. Attorney General
4/11
re complaints and advice to FRBanks
Coleman, studies being conducted by special committee on
7/9
budgets of FRBanks
Committee of Four, appointed by President, interim report on
restraint of private credit expansion to
4/24
be postponed
revised draft of interim report, to be studied
Proposed
4/26
prior to further discussion
date of meeting and question of submission of
Change in
legislation to Congress discussed in con5/3
nection with
loan expansion plan and alternates, views of
Reserves,
Board to be discussed by Chairman Martin
5/8
at meeting of
Financial Problems of Flood Disaster, Mr.
Committee on
8/16
Leody to serve as Chairman
l Security Affairs, participation
Committee on Internationa
of members of Board's staff in work,
5/9
letter to Mr. Cabot of State Department
of ABA, educational program re
Consumer Credit Committee
control of inflation, endorsed by Chairman
2/12
McCabe, letter to all banks
Messrs. Dembitz and Ames
Economic Intelligence Committee,
7/19
to represent Board, advice to CIA
Riefler designated to
Emergency Washington Committee, Mr.
7/24
represent Board on
status reEmergency Washington Committee on Flood Relief,
ports on Kansas-Missouri flood disaster
rehabilitation and comments on disaster
8/13
bills to be submitted at meeting




706

1561

2247
1167
1615

1213

782
1584

883
894

967

990
1763

1005

324
1589
1614

1731

76
Pages
Committees: (continued
Federal Open Market:
Debt-management and monetary policies, agreement reached
with Treasury, statement approved and
ratified
3/2
branch of Government, question of being part
Executive
of in Patman questionnaire, comments of
11/20
FAC re answer requested
of the U. S., article in New York
Letter to President
2/20
Times re, discussion at FAC meeting
Meetings:
February, question of postponement until March when
Chairman would be present, to be discussed
1/23
by Secretary with Mr. Peyton
the U. S., statement of Mr. Vardaman
With President of
reflecting on Chairman and Board, discussion
2/6
of
on January 31, leak of information,
Executive session
statements of Messrs. Vardaman and Evans re
2/6
Doris Fleeson article
Washington during week of
/0
May 14, 1951, to meet in
41
safe for storage
Minutes, purchase of additional
1/25
approved
Policy for maintenance of orderly market for Government
securities and firm money market, FAC in
11/20
favor of
5/10
Policy record, draft of entries for 1950 approved
FRnotes and currency, removal of certain dies, rolls, and
plates to Fort Knox, Ky., depository,
Mr. Bartz designated as representative on
committee for responsibility of
3/29
Flood relief, formation of committee of representatives of
Government agencies having lending powers
to be under chairmanship of President
Leedy of FRBank of Kansas City
/
8 14
House of Representatives:
Banking and Currency:
Consumer durable goods special report on position and
supplementary memo on sales and stocks of
passenger automobiles, copies to be sent to 5/31
Requests for technical assistance by staff of Board
in preparing amendments to Defense Produc6/26
tion Act
Judiciary Committee on Study of Monopoly Power, request
that representative of Board testify at
hearing on fees charged in connection with
2/8
V-loans
Industrial Advisory:
FRBank of Atlanta:
1/19
French, W. W., reappointment approved
1/19
Milner, I. C., reappointment approved
1/19
Randall, Luther H., reappointment approved
1/19
Sanford, John E., reappointment approved
1/19
Winship, George, reappointment approved



475
2284

397

170

255

256
756
199

2274
1024

706

1736

1217
1421

269
150
150
150
150
150

s/z
sfe

ea

a/z
Lz/z
Lz/z

s517
85Y
s547

9T/z
cyr/z
gift
[
9- /
9T/z
Lz/z

sge
sge
sge
sge
sge
sgy

LT/I

6eT
6eT

s/z

ea

we
9T/z
91/5

16011

9i/z
9T/c

6ge
65e
65e
6ge

9T/Z

65e

LT/T
LT/T
LT/T
LT/T

6eT
6eT

6eT

en
en
en

Tz/z
Tvz

WI

56T

gZ/T

g6T

Wi
Sz/i

561
561

gZ/T

g6T

8/Z

LLZ

ez/T
evi
ez/I
ez/I

7LT
YLT

ez/i

47LT

Tz/z
Tz/z
Tz/z

C7
en
-VLT
4
7LT




pemoaddp quamwToddpea "q utior 'qsangaimA
paAoaddp wattrwTodduaa "a aaxTpA 44a8nw
paAoaddy queurluToddpaa 4ssoll 4aqq.and
paAoaddp wamwToddvaa '.0 'r griTTovvion
paAoaddr watnuToddvaa "a uoqaaA0 4sTuuaa
:puoultiopi Jo TrpgHa
peAoaddp quamquToddpaa "14 sower 'aauupis
paAoaddu luamquToddpaa "H ToTtrea 4zlintioS
paAoaddp quamluToddpaa 'Tmay 'uosTTRod
paAoaddp quaurluToddsaa "q Saavil 6aai1goi
paAoaddp quamquTodduaa g
'Ef g aTTT1
139
N
veTtldTaPTITTqd JoXPIPIEHa
paAoadds wourwToddual 4.H ureTTTTm Nortod
peAoaddv quatiquToddval "f pawa 4aTgoti
paAoaddy quamwTodduaa "D artqwV 4110s1eN
:vox Rat' Jo 3grellud
_peAoaddp quataquToddraa "A uopTaqs 4poolt
peAoaddp quemquToddvaa gaaTtnA 4aa2uTu
paAoadds wamluToddyea i-q weicaV 'aeITTN
paAoaddp I.UOUlluToddvaa "H 'V 44qa2 TIG
paAoaddp quetnuToddvaa 6 14 utior 'clung
:eTTodpauuTpi Jo 3tutigad
paAoaddp quam4uToddp 4.11 waqTy 4saaqrA
r1
paAoaddp quatavaToddp" uosvw 'uosdmotly
panoaddv wourluToddla "d PToxell gaGATTS
poAcadds quo1u4uToddv 'SWoqJ,g STretioli
,
paAoaddp quataquioddp "A puomAtu
:44T0 susupm Jo TintEd
peAoaddp maal Jo
aapuTpwaa JOJ 719M4uTOCRIV "as "m .A 42uudTaqs
Jo qTeop 'id .a isuommTs
panoaddsi TuamquTodduaa "S emaativi gvoTTod
vaI 4 alooki
peAoaddv quamquToddpos
paAoaddt. quemquToddvaa 4 -11 saTam 4e1oo4
, 1
,
panoaddv wataquToddrea 4.1 83 8f 'UOM17H
:st/TTIEKI Jo MoregIld
paAoaddv quoinuToddp 4 .11 upwaall 4JJam
paAoaddr luataguToddr "a tmor 'sumTI1TP10161
paAoaddp viamwToddp "a .H 'ewer'
paAoaddv waluquToddv 4 -d -0 'pool;
paAoaddv wataquToddy? 4 -m mug guosaama
:ptreTaAoTo JO TIpErad
paAoaddP slat:imam wasead Jo sluamquToddpau
:o2popl3 Jo Tread
paAoaddy qualuguToddvaa (sa qdrell 'uosdurolly
('
paAoadft quamquToddvaa 411qT00 'P. 'spiv"
paptipa qusgpao
peAcaddp quamiluToddvaa
If
paAoaddv watilquToddpaa" plied 'aadpaa
paAoaddr quemquToddpaa "J Tapp 4 qqaullaa
:uoq.soil Jo Tread
(panuTquoz) :SaosTAPV T13 . 4enpu1
11
(panuTwoo) :eaawcww00

sa2-ed
LL

78
Pages
Nitaittees: (continued)
Industrial Advisory: (continued)
FRBank of St. Louis:
1/19
Crawford, James Louis, reappointment approved
1/19
Franke, Clarence S., reappointment approved
1/19
Heuser, G. A., reappointment approved
1/19
Swaim, Marvin, reappointment approved
1/19
VanDykel Jacob, reappointment approved
FRBankcf San Francisco:
2/16
Baker, Wakefield, appointment approved
2/16
Dulin, E. S., appointment approved
2/16
Folger, J. A., appointment approved
2/16
hayes, Edmund, appointment approved
2/16
Starr, Walter A., appointment approved
Industry advisory:
Conduct in Board, advice to Office of Defense Mobili7/12
zation
Functions under Regulation X, advice to Department of
Justice in connection with complaints concerning failure to comply with established
10/2
standards of
Inter-agency committee to study China Lobby, Mr. Solomon
7/26
designated to serve on
Inter-agency committee appointed by President to study lending operations of Government agencies, mem4/12
bership of
Inter-agency committee to make study re emergency proclamation by President covering banking situation,
Mr. Powell to designate staff members to
12/7
serve on
Inter-agency Critical Areas Committee, Mr. Norton to desig5/1
nate staff member to attend meetings
Member of staff of Board to attend meetings discussed
5/3
Inter-agency Technical Committee on Real Estate Credit Controls, memo on effects of Regulation X and
related FHA and VA regulations and rate of
housing starts in 1951
4/17
Inter-departmental committee of Government agencies, study
of development in real estate and construction field being made by, summnry to be pre7/17
pared for use of Board
Joint Committee on Defense Production, semi-monthly reports
re activities under Defense Production Act
to be submitted, advice re guarantee of defense loans, real estate credit, voluntary
1/26
agreements, and consumer credit
Regulation W, NADA and National Used Car Dealers Associ2/9
ation hearings, advice to Senator Maybank
Report on Board activities for last half of March
4/12
Material re consultations with NADA and NUCDA sent to
Chairman Maybank
4/17
Regulation W, trade-ins as down payment, discussion of
Messrs. Evans, Townsend, and Noyes with
9/4



151
151
151
151
151

359
359
359
359
359
1543

2036
1630

791

2383
938
964

816

1557

207

314
802
846
1855

79
Pages
C°rnmittees: (continued)
Joint Committee on Economic Report, testimony of Mr. Eccles
before and statement of Mr. Vardaman on
Kansas City Regional Defense Mobilization Committee, Mr.
Leedy to represent System on
Liaison committee of National Association of Insurance
Commissioners, Regulation X conference,
program adopted for compliance, advice to
President Allyn
Patman subcommittee on credit control and debt management,
material requested to be sent informally
after being submitted to Board
Status of material being prepared for, statement of
Mr. Carpenter
Hearings by, information to be furnished to, discussion
at Presidents Conference
of questionnaires and answers to be sent to FedCopies
eral Advisory Council when in final form
Questionnaire, FRBank committee of Messrs. Erickson,
Sproul, and Williams appointed to coordinate preparation of information
Procedure of FRBanks for answering questionnaire, discussion at ?residents Conference
Questionnaire, further information re questions on expenses, advice to FRBanks
Personnel of Board:
Active service death benefit, provision through group
life insurance recommended in memo
Agricultural research activities of FRBanks, distribution of material, matter to be studied by
Mr. Powell and
Budget for 1952 to be presented to Board on September 20
Chauffeurs, salary increase discussed, question referred
to
Evans, R. M., trip to Europe and England, recommendation
re reimbursement for expenses to be submitted by
Executive training and development programs, to continue
study and make recommendation
Hilkert, Robert N., Consultant, requests for services
to be approved by
Loyalty Board, membership, question of service of Board
member or division head on, referred to
Membership, question of increasing to three, action delayed pending assumption of duties by Mr.
Martin
Officers in charge of branches, consultation by banks
with Board before filling position, suggestion to be considered by
Retirement system investment procedure, to make recommendation when study completed




1/30

217

7/24

1614

2/9

315

4/24

887

5/1

944

5/18

1132

9/18

1946

10/4

2055

10/4

2055

10/23

2150

7/17

1558

5/10
9/11

1012
1914

8 2
/8

1839

8/14

1737

10/15

2108

6/5

1248

7/17

1557

3/27

678

62
/6

1423

3/9

533

80
Pages
Ntlattees: (continued)
Preparedness Subcommittee, Committee on Armed Services, advice re defense functions of Board sent to
5/21
Senator Johnson
President's Materials Policy Commission, no objection to
services of Mr. Horst Mendershausen being
10/23
available to
Presidents Conference:
Bank Supervision, interlocking relationships involving
open end investment trusts, amendment to be
considered at Presidents Conference, advice
2/28
to Chairman Gidney
Operations, reserve stocks of currency, adMiscellaneous
3/20
vice to Mr. Earhart re status of FRnotes
Agency Operations, Mr. Myrick
Subcommittee on Fiscal
designated Associate of, advice to Mr.
2/8
Gilbert
Real Estate Advisory Committee of FRBank of Boston, Regulation X, views re major additions and
2/21
improvement under
participation
Regional Committees on Defense Mobilization,
by FRSystem, Presidents of FRBanks desig9/19
nated for discussions, advice to FRBanks
Regulation WI liaison committee of national Retail Credit
Association, not favored by Board, advice
1/10
to FRBanks
4/11
Regulation X committees, conduct of, advice to FRBanks
Retirement system, active service death benefit, discussion
by informal committee, report of Mr.
Szymczak
5/3
Senate Banking and Currency:
Assignment of Claims Act of 1940, letter to Senator
Maybank on amendment to aid defense con2/13
tracts
11/27
Attendance of representative at meeting at FDIC
5/1
Legislation, proposed, not to be considered after May 7
Requests for technical assistance by Staff of Board in
preparing amendments to Defense Production
6/26
Act
Subcommittee on credit control and debt management appointed
with Representative Patman as Chairman,
hearings to be held, advice to FRBanks re
4/12
preparation of material
Subcommittee of Judiciary Committee of House, testimony of
Mr. Phelan on interest rates and fees on
2/13
V-loans
Subcommittee of Voluntary Credit Restraint Committee, membership, functions, and minutes discussed at
Presidents Conference
3/9
Subcommittee to consider questions of meetings of bank directors, defalcations, etc., members of,
statement of Mr. Powell on
11/27



1143

2148

466
633

280

426

1967

95
782

958

330
2306
947

1421

802

328

561

2307

81
Pages
Committees: (continued)
Task force subcommittees to be appointed by Mr. Wilson to
make reports on credit, reserve requirements, and stabilization of market for
3/8
public securities
Report on mandatory control of credit, submitted to
Mr. Wilson with dissenting statement from
Mr. Vest re Federal Reserve an administra3/15
tive agency for procedure
submit report on stabilization of market and conTo
trolling inflation of private credit,
statement of Mr. Szymczak on
3/15
Report on reserve requirement legislation to be sub3/15
mitted, statement of Ni'. Young on
Report on reserve requirements, discussion of plans,
to be considered further and to be discussed with kir. Martin before submission
3/20
to Wilson committee
draft of second report prepared
Reserve requirements,
by Mr. Young, to be presented to committee
3/27
for discussion
Martin to take
Reserves, second report discussed, Mr.
4/3
matter up with Wilson Committee
Taxation of banks, study re, subcommittee of Messrs.
Thompson, Armistead, and Mitchell of
FRBanks and Mr. Horbett of Board to direct 12/6
Voluntary agreements, Messrs. Logan and Treiber designated
as representatives of Board for meetings
1/3
of subcommittee on
Statement of principles, Messrs. Powell and Vest au1/11
thorized to present views of Board to
Program to be submitted to full committee, discussion
of membership, matter to be considered
1/23
further
2/7
Voluntary Credit Restraint Committee, to be appointed
Bulletins, copies to be sent to Board members prior to
6/12
release for statement of any objections
Bulletin No. 4 on loans on real estate, letter to
Senator Lodge re inquiry from Mr. Warner
7/9
Bulletin No. 4 to be revised if no objection by Housing
9/6
and Home Finance Agency
Bulletin No. 4, change to be made re exemption of leases
from Regulation X, comments of FRBanks re11/21
quested
Bulletin No. 4 to be amended upon approval of Amendment
12 0
/2
No. 8 to Regulation X
Meetings:
5/1
To be held on May 3, 1951
Next to be held on May 21, 1951
5/7
Members:
Appointment of Messrs. Bunnell and Evans as alternates for Messrs. Moore and Barclay
5/23




524

592

594
594

618

681
716

2370

21
105

166
267
1313
1510
1873

2296
2464
937
987

1172

82
Pages
Committees: (continued)
Voluntary Credit Restraint Committee: (continued)
Members: (continued)
Barclay, William K., Jr., appointed in place of
3/13
Mr. Wood
Benner, Claude L., President, Continental American
3/6
Life Insurance Co.
Cravens, Kenton R., Vice President of MercantileCommerce Bank & Trust Company, St. Louis,m0.3/6
Davis, Carlisle R., Vice President of State-Planters
3/6
Bank and Trust Company, Richmond, Va.
Harrison, George L., Chairman, New York Life In3/6
surance Co.
5/7
Held, Harry, invitation sent to
Holsten, Edward L., appointment as alternate to
5/17
Mr. Smutny
3/6
Kernan, Francis, Partner, White, Weld & Co.
3/6
Limbert, Lee M., Vice President, Blyth & Co., Inc.
Moore, George S., Vice President of National City
3/6
Bank, New York
5/8
Morgan, Robert M., invitation sent to
5/7
Murphy, M. K. M., invitation sent to
O'Leary, Dr. James J., appointment as alternate for
11/28
Mr. Shanks
Lawrence, appointment as alternate for
Pagen, J.
/
6 13
Mr. Limbert
Reese, Everett D., President & Trust Officer, Park
3/6
National Bank, Newark, Ohio
Walter S., Partner, Scott & Stringfellow 3/6
Robertson,
Shanks, Carrol M., President, Prudential Insurance
3/6
Co. of America
Smutny, Rudolf, appointed in place of Mr. Robertson 3/13
Stevenson, L. B., Jr., Lxecutive Vice President,
3/6
National Life and Accident Insurance Co.
5/7
Walker, W. H., invitation sent to
3/6
Wood, Orrin G., Partner, Estabrook & Co.
Membership, Mr. Powell to submit recommendation to Board,
press release to be issued after establishment
3/5
3/6
Membership recommended by Mr. Powell approved
Powell, Oliver S., to maintain liaison between Office
of Defense Mobilization and, advice to
5/24
Mr. Wilson
9/18
Regional committees' chairmen to meet on October 15
Reierson, Roy L., press statement on appointment as
9/10
Special Consultant to Mr. Powell
and building and loan associations to be
Savings banks
represented on, Mr. Powell to submit names 4 5
/
Studies to be made re existing housing, sale of foreign
municipal issues, etc., discussion at
5/15
meeting of FAC




578

497
497
497
497
987
1104

498
497
497
l000
987
2313
1323

497
497

497
578
497
987
498
486
496

1176
1957
1900
731

1062

83
Pages
Committees: (continued)
Voluntary Credit Restraint Committee: (continued)
Subcommittees, statement of Mr. Powell at Presidents
5/18
Conference
Support by Wilson four-man committee and report of
committee composed of Messrs. Wilson,
Lawton, and Keyserling re application
9/18
to Federal lending agencies
Tightening of terms of Regulations W and X recommended
3/20
at meeting, report of Mr. Powell
George B., appointed alternate chairman for
Vest,
/5
61
Mr. Powell
Emergency Committee on Flood Relief, report on
Washington
meeting and program for assistance of
/4
8 1
Mid-west
Wilson Committee:
Reserve requirements, alternative plans, Mr. Martin to
4/3
discuss second report of task force with
Report, recommendations re reserve requirements and
support for voluntary credit restraint
5/18
program
Commodity Credit Corporation:
Interest rate allowed banks for crop loans, reply to FRBank
7/19
of Dallas
Loans by banks and other lending agencies under commodity
loan programs, applicability of Regulation
1/4
X
expense vouchers, request by PMA auditors in
Reimbursable
connection with audit of CCC custodian
accounts, declined, advice to FRBanks
415
°mmodity Exchange Act:
S.341, to amend, no objection to enactment, report to
3/15
Bureau of the Budget
°mmunications of Board, Mr. Thurston to edit before presentation to Board, approved in connection with
7/24
letter to Office of Defense Mobilization
C°mmunications of Board, to be discussed at Board meeting of
7/26
August 7, 1951
C°mPtroller of the Currency:
Acceptances by foreign branches of national banks, subject
to requirements of paragraphs 7 and 12 of
section 13 of FRAct, advice to Mr. Robert4/30
son
Capital requirements of member banks, discussion of draft of
legislation by Mr. Powell with, report to
3/6
be made on
3/27
Draft of legislation presented to
5/18
proposed re, favored by
Legislation
Chartering of new banks and establishment of new branches,
restrictive policy proposed by
7/5




1138

1958
621
1348

1736

719

1139

1590

36

7144
601

1615

1626

912

496
683
1129
1498

84
Pages
Comptroller of the Currency: (continued)
Enforcement program in connection with Regulations W and
X0 letter to Mr. Folger on reporting
4/5
violations
FRnotes, printing requirements for 1952, order placed with
/
6 21
Bureau of Engraving and Printing
Emergency plans, authorization for officers of FRBank
of Richmond to sign requests for shipment,
9/11
printing, etc., advice to
9/11
Printing requirements for 1952, supplemental order for
First National Bank of St. Louis, transaction similar to
proposed merger of Mercantile-Commerce
Bank and Trust Company, under supervision
/
7 3
of
Legislation proposed in draft bill by Mr. Powell re capital
requirements, reserves, and FRnotes, no
4/12
objection to
Meeting at FDIC attended by, discussion of bank examinations,
11/27
capital, directors' meetings, etc.
Mergers, joint statement on paying out of cash proposed,
discussion of draft and distribution,
Mr. Powell to meet with Messrs. Delano
7/5
and Hanl to discuss
Mergers and absorptions between banks requiring prior consent of Board, statement of policy sent
8/16
to for comments
National bank call report form, addition of memo item to
Schedule A, inclusion in State member
banks form to be considered further,
6/4
advice to Mr. Jennings
Puerto Rican branch of National City Bank of New York, use
of armored trucks by, Board's delegation
7/31
to develop further information, advice to
demand deRegulation Q, indirect payment of interest on
posits, question of violation by national
9/7
bank, advice to
12/6
Taxation of banks, study and questionnaire favored by
Treasury bonds, valuation and amortization of 2-3/4 per
cent bonds of 1975-80 received in exchange
/
61
for 2-1/2 per cent bonds, ruling on
condition reports:
1/9
Bank of America, New York, N. Y., request for
7/2
Call as of June 30
inaccuBank of Illinois Valley, Cave Junction, Oregon,
5/9
racies in, republication not required
1/9
Bankers Company of New York, request for
7/2
Call as of June 30
Burlington Transportation Company, affiliate of Bankers
Trust Company, granted additional time
2/5
for submission of report
/2
2 6
Granted additional time for submission of report




740
1389

1908
1922

107
793
2306

1497
1756

1236
1662

1887

2371
1228
89

1468
1003
89

1468
247
14141

85
Pages
Condition reports: (continued)
Burlington Transportation Company: (continued)
Requirement for submission and publication of report
as of December 30, 1950, waived
Chase Bank, New York, N. Y., request for
Call as of June 30
Continental State Bank, Boise, Idaho, extension of credit
to affiliate, Homedale State Bank, Homedale, Idaho, report on FA 220 and filing
of certificate of publication on FR 220a
not required
First of Boston International Corporation, New York, N. Y.,
request for
Call as of June 30
First State Bank of Lynwood, California, republication of
report of affiliate to correct inaccuracies not required
Foreign banking corporations, request for
Call as of June 30
International Banking Corporation, New York, N. Y., request
for
Call as of June 30
Member banks, tabulation of material for current loan information, FRBanks requested to make
Incorporated, New York, N. Y., request for
Morgan & Cie.
Call as of June 30
National bank call report form, addition of memorandum item
to Schedule A, inclusion in end-of-year
form of State member banks to be
considered
National banks:
Call as of January 4
Call as of April 9
Call as of June 30, 1951
Call as of October 10, 1951
Call as of December 31, 1951
National and State member banks for December 30, information in Schedule A, loans and discounts,
requested from FRBanks
State member banks:
Call as of January 4
Call as of April 9
Forms for next call, copies to be sent to FRBanks
Call report form, addition of memorandum item to
Schedule A, inclusion in end-of-year form
to be discussed further with National Association of Supervisors of State Banks
Call as of June 30, 1951
Draft of form FR 105 for end-of-year call sent to
Bureau of the Budget




3/16

606

1/9
7/2

89
1468

5/8

l000

1/9
7/2

89
1468

1/8

70

1/9

88

7/2

1468

1/9
7/2

89
1468

3/7
7/2

510
89
1468

6/4

1236

4/9

747
1488

10
7/3
10/17
12/28

1/5

2126
2512

65

1/2

10

4/9

747

/4
21

342

6/4
7/3

1236
1488

10/10

2085

86
Pages
Condition reports: (continued)
State member banks: (continued)
10/12
Forms and instructions for next call sent to FRBanks
10/17
Call as of October 10, 1951
12/3
Forms for next call sent to FRBanks
12/28
Call as of December 31, 1951
Union Bank and Trust Company of Los Angeles, California,
republication not required to list name
5/10
of attesting officer
Weekly statement of FRBanks:
Exchange of 0. billion of 2-3/4 per cent Treasury bonds,
Investment Series 8-1975-60, in System Open
Market Account for like amount of 1-1/2 per
cent Treasury notes, statement to be in7/12
cluded in
Conferences:
Auditors, to be held in Washington on May 23-25, advice to
3/26
FRBanks re agenda and plans
5/3
Examination procedures, revised directive
Dinner for Reserve Bank representatives attending,
budget of Division of Examinations to
5/22
be increased to cover
Board of Trustees of Retirement System:
Active service death benefit, recommendation to in5/3
crease, Mr. Wurts to present matter
Central Bank Technicians of American Continent, to be
6 27
/
held in Cuba, Board to be represented
Central Banking Seminar to be held in September at FRBank
of San Francisco, Messrs. Thomas, Sherman,
8 22
/
and Williams to represent Board
Chairmen:
Meetings:
To be held in Washington, agenda and costs approved 3/29
San Francisco, not desirable to hold outside of
Washington in view of international
6 19
/
situation, Mr. Wilbur to be advised
Washington, next meeting in fall to be held in,
/
6 19
Mr. Wilbur to be advised
Outside of Washington or Federal Reserve Bank City,
81
/6
opposition of Mr. Vardaman to holding
November in Washington, Mr. Wilbur to be advised
9/6
re desirability of
Washington on December 3-4, payment of costs
11/28
of dinner and luncheons, etc., approved
Topics for discussion:
Examination procedures, revised directive
5/3
Retirement system, active service death benefit,
recommendation to increase, Mr. Brainard
5/3
to present matter




2096
2126

2333
2512

1015

1533

674
963

1162

960

1445
1795

694

1365
1365
1757
1873
2321
963
960

87
Pages
Conferences: (continued)
Defalcations of banks, possible conference of bank supervisory agency representatives and others
to discuss problem, discussion at Presidents' Conference of audit and examination
10/4
function
be asked to
Further discussion of representatives to
attend, Mr. Powell to study matter and
10/15
submit recommendation
re
Meeting in Harrisburg, Pa., to discuss publicity
embezzlements in western Pennsylvania,
11/27
statement of Mr. Sloan
FRBank and
Directors, series of six two-day meetings of
Branch directors at Board's offices between October 1951 and June 1952, sugges/9
61
tion to be considered further
Washington on February 8-10, 1951,
Examiners', to be held in
1/5
advice to FRBanks
Washington for conference at
Field staff to meet in
least once each year, per diem to be paid
in lieu of subsistence for all in Washington
/
6 12
on official business
re bank examination,
FDIC, meeting to discuss questions
capital of banks, meetings of directors,
11/27
etc., statement of Mr. Powell on
of Foreign
Fourth Meeting of Consultation of Ministers
Affairs of American States, Board's
6 27
/
staff requested to participate in
experts from Latin American
Meeting of technical
Republics, services of Messrs. Thomas
and Grove to be available for, advice
7/9
to State Department
Government expenditures, meeting of representatives of
Council of Economic Advisers, Bureau of
the Budget, and Treasury attended by
12/4
Mr. Young
Inter-American Economic and Social Council, Mr. Thomas
designated as member of U. S. delegation
8/3
to session to be held in Panama
International, Board representation at, advice to State
6
/27
Department
International Bank for Reconstruction and Development and
International Monetary Fund, directors
and officers invited to meeting and
6/6
luncheon with Board
Credit Conference, designation of Mr. Evans
International
as Board representative, advice to
9/7
Mr. Siglienti
International Monetary Fund and Bank meetings, Board par6
/27
ticipation in
Meetings, schedule for next year, Mr. Thurston to review
and report whether series of six directors'
meetings could be arranged to harmonize
6 19
/
with



2058

2109

2309

1363

64

1314

2306

1445

1509

2340
1680
11014

1260
1897
1444

1364

88
Pages
Coaferences: (continued)
National Automobile Dealers Association to meet with
Mr. Evans and other members of Board
1/11
to discuss Regulation W
Conference on Income and Wealth, Messrs. Jones,
National
Schweiger, and Weiner granted official
9/11
leave and travel expenses to attend
Car Dealers to meet with Mr. Evans and other
National Used
1/11
members of Board to discuss Regulation W.
Council, Mr. Martin absent from FAC
North Atlantic Treaty
meeting to attend meeting in Ottawa,
9/18
Canada
Officers of FRSystem, meeting to be held at Board,
Personnel
1/24
expenditure for entertainment approved
employment policies of FRBanks during emergency
Personnel,
3/9
period to be topic for discussion
Presidents:
Capital requirements for membership in FRSystem, proposed legislation, discussion of removal
of provisions re reserve requirements and
FRnotes and of question of FDIC approval
5/18
for deposit insurance
requirements of FRBanks, inability of Treasury to
Coin
meet, discussion of situation and memo of
10/4
Mr. Leonard
conference of bank supervisory agency
Defalcations,
representatives and others to discuss
problem suggested, discussion of audit
10/4
and examination function
Emergency currency supply, Mr. Rounds to include sub2/9
ject in next report to
Employment policies of Reserve Banks during emergency
period, topic to be placed on agenda of
Personnel Conference for further discus3/9
sion
Executive training and development programs, discussion
10/4
of plans for Board and FRBanks
Insurance, continuance of group life policies after effective date of noncontributory group,
10/4
discussion of views of FRBanks and Board
Interlocking relationships between member banks and
open-end investment companies, comments
of FRBanks to be requested on amendment
to Regulation R and solution of problem
/
39
Leased wire system, recommendation of committee for
10/22
additions and revisions, approved
Meetings:
February, question of postponement until March
when Chairman would be present to be
1/23
discussed by Secretary with Mr. Peyton
3/9
With Board




105

1918
105

1946
179
558

1128

2046

2058
313

557
2056
2057

558
2144

169

557

89
Pages
Conferences: (continued)
Presidents: (continued)
Meetings: (continued)
May 14, 1951, to meet in Washington during week of
With Board
Outside of Washington, no objection to meeting in
St. Louis at time of annual meeting of
National Association of Supervisors of
State Banks, to be followed by meeting
of FOMC and joint meeting with Board in
Washington
St. Louis, meeting to be held in September
St. Louis, Missouri, September 27-29, comments of
Messrs. Vardaman and Powell on holding
outside of Washington and in connection
with convention
Agenda sent to Mr. Van Nice for October
With Board
Memorandum of topics considered and views to be stated
at joint meeting
Memorandum of topics considered and views to be stated
at joint meeting
Patman Subcommittee of Joint Committee on Economic
deport, hearings by, information to be
furnished to, discussion
Patman Subcommittee on General Credit Control and Debt
Management of Joint Committee on Economic
Report, procedure for answering questionnaire, discussion of
Post office funds deposited with FRBanks and branches
through use of registered mail, handling
and insurance, copy of letter from Asst.
Postmaster General sent to Mr. Peyton
for comments of
Regulations W and X, enforcement program, discussion of
enforcing compliance rather than criminal
prosecution
Reserve requirements, legislation to grant increased
authority over, discussion of loan expansion reserve plan, memoranda re to
be sent to FRBanks
Proposals, draft of loan expansion reserve plan,
discussion of need for additional
authority
Reserves for contingencies, adequacy of, discussion of
transfer of reserves to surplus
Safekeeping of securities, policy reaffirmed, advice to
FRBanks
Savings bond sales, promotion of increased, System to
continue to study matter and to make
further suggestions




4/10
5(18

756
1128

6/12
6/19

1311
1366

8 1
/6
9/5
10/4

1757
1870
2046

3/9

532

5/18

1117

5/18

1132

10/4

6
/27

2055

1441

10/4

2051

3/9

563

5/18

1136

5/18

1133

5/2

956

5/18

11314

90
Pages
Conferences: (continued)
Presidents: (continued)
Section 13b loans, place in credit situation and use
in V-loan program, discussion in connection with small businesses
Taxation of banks, ability to improve capital positions and to attract new capital funds,
statement of Mr. Schapiro re H.R. 4473,
study of question to be considered
Topics for discussion:
Charge off of unamortized premium on nonmarketable
2-3/4 per cent bonds of 1975-80, no
further action to be taken unless consideration desired at, advice to FRBanks
Employment policy of FRBanks, advice to Mr. Peyton
re Executive Order on personnel procedures
to be followed by Board
Examination procedures, revised directive
Executive development program, steps to further
and plans for replacement of officers who
will retire
Insurance, continuation of existing group contracts
after effective date of proposed contract
providing group life on non-contributory
basis
Interlocking relationships involving open end investment trusts, amendment to be
considered
Patman Subcommittee questionnaires to Board and
FRBanks
Rates, procedure for establishment of buying rates
-uo be reviewed
Regulations W and X enforcement program
Reserves for contingencies, adequacy of
Retirement system, active service death benefit,
recommendation to increase, Mr. Williams
to present matter
Section 13b loans to small businesses engaged in
defense effort, advice to FRBanks
V-loan program covering loans for defense production, with special reference to authority
for use of 13b loans
Voluntary credit restraint program, report by
Mr. Powell
Voluntary credit restraint program, discussion of membership, functions, and minutes of subcommittee
Statement of Mr. Powell re subcommittees and
general progress of program
Report by Mr. Powell on current status and discussion of actions being taken by various
Government agencies




10/4

2049

10/4

2059

8/9

1721

1/15
5/3

119
963

9/5

1870

9/5

1870

2/28

1466

9/5

1870

12/28
9/5
4/30

2508
1870
927

5
/3

960

9/20

1978

9/17

1942

9/5

1870

3/9

560

5/18

n38

10/4

2060

91
Pages
Conferences: (continued)
Professional associations, including American Economic
Association, American Statistical
Association, Econometrica Society, and
American Marketing Association, expenses and
official leave authorized for certain
staff members to attend meetings in
12 1
/8
Boston
Regulation W:
Problems in Western section to be discussed with
representatives of NADA, advice to
1/26
Mr. Deo
Regional conferences to be held in June, advice to
FRBanks on schedule
5/7
System to be held in September instead of regional,
comments and suggestions for agenda
81
/0
requested of Faanks
8/28
Copies of agenda sent to FRBanks for comments
Meeting to discuss question of trade-ins as down
payment with trade representatives
9/4
Trade-ins as down payments, discussion with representatives of Admiral, Westinghouse
9/11
Electric, and Philco Corporations
Regional, to be held at FRBanks of Cleveland, Atlanta,
Minneapolis, and Dallas, question of
12/27
enforcement program to be discussed
T
E Company, Inc., automobile leasing business,
meeting to discuss problem and question
12/14
of amending Regulation
Regulations W and X:
5/22
Regional, rescheduled for September, advice to FRBanks
System conference to be held September 12-14, advice
8/23
to FRBanks
9/17
discussions by Mr. Noyes
Review of
Question of holding future and types of meetings, com10/3
ments of FRBanks requested
10/31
To be held in 1952, advice to FRBanks
Regulation X:
Regional conferences to be held in June, advice to
5/7
FRBanks on schedule
8/9
Joint press conference to be held if terms relaxed
8/28
Copies of agenda to be sent to FRBanks later
9/7
Agenda sent to FRBanks
Trade, on amendment to Regulation W to delist older model
12/27
automobiles
for personnel of FRSystem, FRBank repreTraining programs
sentatives to meet with Messrs. Norton
and Allen for discussion, Personnel Com10/26
mittee to continue to study matter
Trust Examiners', to be held at FRBank of New York,
1/12
February 1-3, advice to FRBanks




2441

203
986

1726
1841
1855

1915

2493
2415
1149
1810
1944
2043
2191
986
1713
1841
1896
2495

2166
114

92
Pages
Conferences: (continued)
United Nations Economic and Social Council, Board participation in
World Food and Agriculture Organization of UN, Mr. Evans
to attend meeting in Rome
Connalliy, Tom:
Regulation w, application to sales of television sets
, Regulation X, reply to questions of Mr. Guillot on
Lionnecticut General Life Insurance Company, Hartford, Conn.:
Regulation X, reply to question on amortization provision
Copy of proposed contract for group life insurance sent
to all FRBanks
, Contract for group life insurance approved
.donsolidations:
Bank of Nutley and First National Balk of Nutley, N. J.,
Board approval not required, advice to
Congressman Rodin° in response to inquiry from Mr. Ciardi
Bankers Trust Company of New York, proposed merger with
Commercial National Bank and Trust
Company, discussion and statement of
Mr. Powell re
Absorption of Commercial National Bank & Trust Company
of New York approved
Beaver Trust Company, Beaver, Pa., absorption of Midland
Bank, Midland, Pa., approved
Central Valley Bank of California, Richmond, Calif., establishment of branch in Manteca, Calif.,
approved in connection with proposed
merger with Bank of Manteca
Chemical Bank and Trust Company, New York, N. Y., merger
with National Safety Bank and Trust
Company of New York without increasing
capital and surplus of continuing bank
approved
Citizens Bank of Sherwood, Oregon, merger with Commercial
National Bank of Hillsboro, Oregon, and
Commercial Bank of Oregon, West Slope,
Oregon, under new title of Commercial
Bank of Oregon, Hillsboro, Oregon,
approved
City Bank, Detroit, Michigan, establishment of branch at
Hazel Park, Michigan, following consolidation with Peoples State Bank of Hazel
Park, Mich., approved
Colonial Trust Company, Pittsburgh, Pa., absorption of
Bank of Ohio Valley, Pittsburgh, Pa.,
approved
Colonial Trust Company, Waterbury, Conn., establishment
of branch in Watertown, Conn., approved
in connection with merger of Watertown
Trust Company, Watertown, Conn.




6 27
/

ihhh

81
/4

1737

4/12

3/22

799
648

2/28

468

10/26
11/1

2193

6/13

1326

4/24

885

5/14

1046

12 1
/9

2454

10/26

2174

3/9

549

12/7

2384

12/26

2486

9/10

1901

5/28

1197

2175

93
Pages
Consolidations: (continued)
Commerce Trust Company, Kansas City, Mo., purchase of
assets and assumption of liabilities of
Stock Yards National Bank of Kansas City,
Mo., approved in view of emergency
8/9
situation
Commercial Bank of Utah, Spanish Fork, Utah, establishment
of branch in Roosevelt, Utah, approved
in connection with absorption of Roosevelt
/
6 13
State Bank
Continental State Bank, Boise, Idaho, establishment of
branch in Richfield, Idaho, in connection
with absorption of First State Bank, Rich12/18
field, Idaho, approved
Fidelity Union Trust Company, Newark, N. J., absorption of
First National Bank of Belleville without
3/22
increasing capital approved
paying
Joint statement of policy for emergency period on
out of cash proposed by Comptroller of
the Currency, discussion of draft and
distribution, Mr. Powell to meet with
Messrs. Delano and Hanl to discuss
7/5
Legislation, Treasury Department bill to provide for merger
of national banking associations, report
7/26
to Bureau of the Budget
Lincoln Rochester Trust Company, Rochester, N. Y., absorption of Bank of Hammondsport, N. Y., and
establishment of branch in Hammondsport
8/29
approved
Marine Midland Corporation, Jersey City, N. J., application
for general voting permit covering stock
of National Chautauqua County Bank of
Jamestown, New York, to effect consolidation with Union Trust Company of Jamestown,
N. Y., discussion of question at luncheon
12/14
meeting at FRBank of New York
Marine Trust Company of Buffalo, N. Y., granted permission
to establish 12 out-of-town branches in
connection with absorption of six other
banks, name to be changed to Marine Trust
Company, of Western New York
4/11
Mercantile-Commerce Bank and Trust Company, St. Louis,
proposed consolidation with Mississippi
Valley Trust Company, St. Louis, involving
technical violation of Section 5136, Revised Statutes, Board would not expect to
object, advice to be given informally by
6/5
Mr. Vest
Action rescinded after point raised in telegram from
FRBank of St. Louis, matter to be con6/5
sidered further




1719

1328

2446

645

1497

1634

1842

2417

778

1241

1249

94
Pages
Consolidations: (continued)
Mercantile-Commerce Bank and Trust Company: (continued)
Mississippi Valley Trust Company, St. Louis, Mo.,
purchase of stock of Mercantile-Commerce
National Bank and technical violations,
new application for membership not re/
6 12
quired and no action to be taken
-Commerce National
Disposition of stock of Mercantile
Bank of St. Louis, request for hearing
6 2
/5
on behalf of clients re by Mr. Treiman
Company, opposition of outMississippi Valley Trust
lying bankers, statement of Mr. Johns
7/3
on situation
Berger for copy of letter re purchase
Request from Mr.
of Mercantile-Commerce National Bank,
7/12
Board not to furnish such information
Formation of Mercantile Trust Company, St. Louis, Mo.
discussion of letter re membership in
FRSystem, draft to be circulated to all
/21
8
Board members
Advice to FRBank of St. Louis re membership in FRSystem
8/23
of new bank
Mergers requiring consent of Board under section 18(c) of
Federal Deposit Insurance Act, banks to
present plans informally to FRBank of
district before public announcement,
4/24
letter to be prepared to FRBanks
Plan to be submitted to Board prior to publication
of proposal, advice to FRBanks
/4
51
8/6
Procedure re, reply to letter from Mr. Sproul
Policy statement re, discussion of, matter deferred
for consideration at meeting when Chair/4
81
man Martin would be present
Statement of policy re, copies sent to Comptroller of
8 1
/6
the Currency and FDIC for comments
9/11
Statement of policy approved, advice to FRBanks
Middlesex County National Bank, Everett, Mass., merger
with First National Bank in Medford,
Mass., question of basis for computation
of profits on sales of stock acquired by
Baystate Corporation, Boston, Mass., in
2/8
connection with
Montclair Trust Company, Montclair, N. J., establishment of
branch in Verona, N. J., and absorption of
8/31
Verona Trust Company approved
Montgomery Trust Company, Norristown, Pa., establishment of
branch in North Wales, Pa., approved,
subject to absorption of North Wales
12/20
National Bank
National banks, conversion into and merger and consolidation
with State banks, bill proposed by Treas8/7
ury, report to Bureau of the Budget




1299

1412

1473

1536

1784
1806

887
1043
1689

1746
1754
1905

278

1850

2475

1703

95
Pages
Consolidations: (continued)
Norfolk County Trust Company, Brookline, Mass., absorption of Braintree National Bank,
Braintree, Mass., and establishment
of branches in Braintree and South Braintree, Mass., approved
Rhode Island Hospital Trust Company, Providence, R. I.:
Absorption of affiliate Rhode Island Hospital
National Bank of Providence approved
Absorption of Woonsocket Trust Company, Woonsocket,
R.I., approved
Southern Commercial and Savings Bank, East Pasadena,
Calif., absorption of Long Beach
National Bank, Long Beach, Calif.,
establishment of branches approved in
connection with
Tenafly Trust Company, Tenafly, N. J., merger with Dumont
National Bank, Dumont, N. J., and change
of title to County Trust Company/ approved
Union Bank of Michigan, Grand Rapids, Mich., absorption of
Rockford State Bank, Rockford, Mich., and
establishment of branch in Rockford approved
Warren Bank and Trust Company, Warren, Pa., establishment
of branches in Tidioute, Pa., and in
Sugar Grove, Pa., in connection with
absorption of Tidioute State Bank,
Tidioute, Pa., and Sugar Grove Savings
Bank, Sugar Grove, Pa., approved
C°nstruction, nonessential, need for curtailing, discussion
at FAC meeting
Co
nsumer credit:
Canada, staff members to visit Bank of Canada to obtain
information on regulation in
1948 Census of Business data, special tabulation to be obtained from Bureau of the Census to show
amount of credit extended by retail trade
groups in each FRDistrict
c (See also Credit)
°48umer credit statistics, revision authorized, statement of
Mr. Young on history
Accuracy challenged by Representative Tackett and
Mr. Bradley
Series revision, appointment of consultants for work on
approved
Accuracy doubted by Mr. Vardaman
Economists, employing of outside to make appraisal of
problem, suggested by Mr. Vardaman
Reply to letter from Representative Tackett and invitation to discuss matter with Board




10/29

2180

10/19

2143

11/15

2261

12/17

2433

6/15

1349

6
/25

101

12/26

2486

5/15

1069

3/8

522

6
/13

1336

6 6
/2

1423

10/26

2169

10/26
12/4

2342

12/4

2360

12/4

2354

2173

96
Pages
Consumer durable goods, special report on position and supplementary memo on sales and stocks of passenger automobiles, copies to be sent to
5/31
House Banking and Currency Committee
Consumer finances:
1950 Survey, reimbursement to Survey Research Center for
3/6
amount in excess of estimate of cost
survey, expenditure in excess of estimate
Sixth national
4/11
approved
Survey approved after discussion of
Seventh Nation-wide
9/27
uses and need for
with University of Michigan
Seventh annual survey, contract
10/31
approved
Contra Costa County Schools, Martinez, Calif.:
Regulation 14, application to leasing arrangements proposed
7/20
by
Contract Automobile Rental Co.:
7/10
Regulation W, application to leasing of automobiles by
L,ontract Vehicles, Inc.:
Regulation I, meeting at Board re suggestion of amendment
on leasing arrangements, advice to
10/16
Mr. Cotter
Contributions:
American Institute of Banking, annual Convention, contribution by Houston Branch toward general ex11/16
penses approved
Board of Governors:
Reserve Board Club picnic, contribution of $125
6/1
approved for
Crusade for Freedom, advice to Mr. Bartelt re support of
9/2)4
Board, movie to be shown to employees
FRBanks:
Community welfare projects (community chests, etc.) no
change in policy re, advice to FRBank of
3/7
New York
Leaves of absence with pay to FRBank employees for Community
Chest, Red Cross, Infantile Paralysis and
9/25
similar charity drives, advice to FRBanks
Red Cross, appeal to be presented on Board's time in
3/12
Cafeteria
Conventions:
American Institute of Banking, annual, contribution by
Houston Branch toward general expenses
approved in addition to cost for dinner
11/16
for FRBank delegates
Q°0k Paint & Varnish Company, Kansas City, Mo., Regulation X,
applicability to new structure, advice
5/10
to FRBank of Kansas City
Cor
Horace K., Regulation WI increase in down payment and
liberalization of maturity requirement,
5/16
letter to Mr. Sproul on suggestion of




1216
505
785
2010
2190

1600
1522

2117

2268

1232
1992

507

2001
571

2268

1021

1095

97
Pages
Corona, California, designation as defense area for Regulation X
purposes
5/1
Correa, Rodolfo A., amendments to Defense Production Act to
facilitate defense mobilization program,
draft of letter to, to be withheld pending
further discussion when Messrs. Evans and
Powell could be present
11/13
Defense Production Act, amendments to extend and to continue
authority over Regulations W and X, advice
to
12/4
Cotter, Cornelius P., Regulation WI leasing of automobiles by
client, Contract Vehicles Inc., further
correspondence re
8 21
/
Automobile leasing arrangements of Mr. Rothschmitt's business,
Contract Vehicles, Inc., meeting at Board
re suggested amendment to regulation
10/16
C°uncil of Economic Advisers:
Annual Economic Review, comments on Credit and Debt Management section, revised memorandum to be sent
to
1/2
Task forces to report on plans for control of private
credit, increase of bank reserve requirements, and stabilization of market for
public securities, memorandum from
Mr. Keyserling on
3/8
FRBank:
FRBank of Cleveland:
Squire, Sanders & Dempsey, employment in connection with
suit filed against Bank by Bank of America
approved
2/27
FRBank of Kansas City, question of appointment of member of
Kansas City Board of Election Commissioners
as successor to Mr. Johns
8/2
Counsel, special:
Smith, J. J., Transamerica Corporation proceeding, recommendations re time schedule for completion
of hearings
5/15
Suggestion that application of Marine Midland Corporation
for general voting permit be submitted to 12 1
/4
001,
cases:
FRBank of Cleveland, suit filed by Bank of America, employment of Squire, Sanders and Dempsey
approved
2/27
Fifth Avenue Motors, Inc., Columbus, Ohio, Regulation W„
consent injunction from further violations,
report of Mr. Townsend
3)23
McDonnell Aircraft Corporation v. Commissioner of Internal
Revenue, question of appeal by Bureau of
Internal Revenue of decision of Tax Court,
advice to Mr. Smithies
6 2
/6




937

2231

2346

1790

2117

1

524

459

1668

1078
2420

459

169

1428

98
Pages
Court cases: (continued)
Public Loan Corporation and Herman Bryan Hamric, violations
of Regulation W, U. S. Attorney of San
Francisco to be instructed by Department
5/10
of Justice to prosecute case
, Regulation W violations, witness fees approved
1/12
0wan, Robert G., Regulation W, increase in down payment and
`
liberalization of maturity requirement,
5/16
letter to Mr. Sproul on suggestion
Credit:
Actions to combat inflation, memorandum of Chairman McCabe
1/11
to be sent to Defense Mobilization Board
1/16
Jiscussion of
Annual Economic Review of Council of Lconomic Advisers, memo
1/2
of comments by Staff to be revised
Bank lending, spot survey in FRDistricts re trends, approved,
Mr. Powell to work out details with
12/28
Mr. Young
Voluntary Credit Restraint Committee re
Bulletin No. 2 of
restriction of business capital expenditure
4/20
financing approved
conditions and System credit policy,
Business and economic
11/20
discussion at FAC meeting
field, letter to Mr. Harrison on extending
Commercial
1/23
controls to
Committee of Four appointed by President, proposed revised
draft of interim report, to be studied
4/26
prior to further discussion
task force subcommittee on mandatory,
Control, report of
submitted to Mr. Wilson, with dissenting
statement from Mr. Vest re Federal Reserve
3/15
as administrative agency for procedure
Control and debt management, Patman statement re subcommittee
and hearings to be held, material to be prepared by Division of Research and Statistics
with assistance of research departments at
4/12
FRBanks
.L'ontrol policies, discussion at FAC meeting or prospects
5/15
during next six months
Controls, use by Board of orthodox in anti-inflationary
program, to be discussed at hearings on
Defense Production Act of 1950
5/8
11/8
Controls, topic for discussion at FAC meeting
Expansion, proposals to restrict, question of submission to
2/1
Congress, to be discussed further
Expansion of bank, Treasury to be requested to cooperate in
seeking legislation to restrict, statement
3/2
approved and ratified
Fiscal and monetary actions to combat inflation, to be dis2/1
cussed at FAC meeting




1008
117

1095

98
124
1

2509

867
287:
2
178

894

592

10
80254

990
2218
228

475
235

99
Pages
Credit: (continued)
Government lending agencies, application of voluntary credit
restraint program, discussion at FAC meeting 9/18 1956
Legislation to authorize further restrictions, question of
increasing reserve requirements, etc., to
be considered, Mr. Powell to make investiga215
tion of study to be made
1/30
of
Lending activities of Government agencies, statements
Mr. Paul Groszkruger on, reply to Senator
1205
5/28
Gillette
management,
Patman subcommittee on credit control and debt
material requested to be sent informally
887
4/24
after being submitted to Board
at FAC
Policies on general controls, topic for discussion
970
5/3
meeting
Topic for discussion at FAC meeting
9 8 9 4'
g
1 9
7
Policies of Systeml discussion at FAC meeting
debt management,
Policy of FRSystem on credit and Treasury
letter to Chairmen of FRBanks requesting
2/27
456
views to be prepared
2/20
meeting
394
Prices, effect of increase on, discussion at FAC
Report of task force subcommittee on controlling inflation
of private credit, selective controls,
and regulation of commodity markets, to
594
be submitted, statement of Mr. Szymczak on 3/15
Reports on developments in consumer, real estate, and stock
716
/
43
market credit suggested by Mr. Vardaman
Reports on consumer, real estate, stock market, guaranteed
loan program, and voluntary credit restraint
757
program to be made at Tuesday Board meetings 4/10
Reports to be made on voluntary credit restraint program at
4/10
757
Tuesday Board meetings
etc., to be made bi-weekly
Reports on consumer, real estate,
at Board meetings in absence of unusual
829
4/17
developments
private, interim report of ComRestraint of expansion of
4/24
mittee of Four to be postponed
Section 13b loans, relationship to Voluntary Credit Ream
straint Program, discussion at Presidents
10/Li2:::
Conference
Reference to discussion at Presidents Conference in connection with situation and use as part of
2106
10/15
V-loan program
Small business needs, discussion in connection with reports
790
4/12
on S. 533 and S. 833
Loan
Small business, plan to establish regional Federal
Insurance Associations, reply to Mr. Ralph
5/22 1157
R. West
Wiley
Small business, letter from Mr. Schommer to Senator
/
6 29 1464
on lack of bank credit available for




100
Pages
Credit
: (continued)
Study of prospective demands for and supply of over next
six to twelve months, recommendation of
FAC that FRBoard undertake, memo of
Mr. Youngre and discussion
Task force subcommittees to be appointed by Mr. Wilson to
make reports on control of private
Voluntary agreements, Messrs. Logan and Treiber designated
as representatives of Board for meetings
of subcommittee on
Draft of legislation to be prepared for inclusion in
omnibus bill
Statement of principles, Messrs. Powell and Vest
authorized to present views of Board
Statement re developments sent to National Security
Resources Board
Program for Voluntary Credit Restraint, approved subject
to full committee, copy to be submitted to
Attorney General and to Federal Trade Commission and meeting of committee to be
called after receipt of comments, letter to
Mr. Sproul of advice
Report to Joint Committee on Defense Production
Meeting in New York to be attended by Messrs. Powell
and Vest, program to be worked out by
representatives of financing institutions
To be discussed at FAC meeting
Program for, letters to Attorney General, Federal Trade
Commission, ABA, ard others, copies sent
to FRBank of New York
Program approved, advice to FRBanks re procedure
Program and Request resubmitted to Attorney General
and Federal Trade Commission for approval
Program favored by FAC
Program, support favored by FAC
Question of FRBank representation on subcommittees,
Chairman McCabe and Mr. Powell to discuss
matter with Attorney General McGrath or
Assistant Attorney General Ford
Amendment to Program re FRBank representation on subcommittees, comments of FRBanks requested
Membership of Federal Reserve representatives on subcommittees, advice to Attorney General and
Federal Trade Commission
Voluntary Credit Restraint Committee, Mr. Powell to submit
recommendation to Board, press release to
be issued after establishment
Members of
Savings banks and building and loan associations to be
represented on, Mr. Powell to submit names




5/15

1067

3/8

524

1/3

21

1/9

81

11
/1

105

1/12

116

1 23
/
1 2
/6

163
207

2/1
2/1

228
235

2/5
2/7

251
266

2/16
2/20
2/20

363
383
403

2 27
/

455

3/2

48o

3/5

484

3/5
3/6

486
496

4/5

731

101
Pages
Credit: (continued)
Voluntary Credit Restraint Committee: (continued)
Mr. Powell to maintain liaison between Office of Defense
5/24
Mobilization and, advice to Mr. Wilson
Bulletin No. 4 on loans on real estate, letter to
Senator Lodge re inquiry from Mr. Warner
/
7 9
Bulletin No. 4, to be revised if no objection by
9/6
Housing and Home Finance Agency
Change to be made in Bulletin No. 4 re exemption of
leases from Regulation X, advice to
11/21
FRBanks, comments requested
Amendment to Bulletin No. 4 to be issued upon approval
12/23
of Amendment No. 8 to Regulation X
Voluntary Credit Restraint Program:
Request approved, all financing institutions in U. S.
to be advised
3/9
Copy of Request and Finding submitted to Attorney
General and Federal Trade Commission
3/9
Discussion at Presidents Conference of membership,
functions, and minutes of subcommittees
3/9
Letter from Acting Attorney General approving Request,
question of releasing to lending institutions for inspection
4/5
Opposition of Mr. Vardaman to dominant position of
FRSystem in
4/5
Amendments approved, copies of new Request sent to
Attorney General and Federal Trade Commission for approval
45
/
Placard for banks, insurance companies, and investment
banking institutions, preparation and distribution approved
4/5
Information re loans of country member banks in places
with population under 15,000 requested
from FRBanks for use of
4/10
Report to be made at meetings of Board bi-weekly instead
of weekly
4/17
Expenses, absorption of incidental items by FRBanks, no
objection, advice to FRBanks
4/17
Report of Mr. Powell on developments
4/17
As amended, finding, and Request approved, advice to
Attorney General and Federal Trade Commission
4/20
Report by Mr. Powell on progress
5/1
Topic for discussion at FAC meeting
5/3
Progress of, discussion at meeting of FAC with Board
5/15
Definition of "essential production" discussed at FAC
5/15
meeting
Statement of Mr. Powell at Presidents Conference on
5/18
general progress
Information sent to Senator Johnson
5/21
Report of Mr. Powell on developments




5/22

1176
1510
1873

2296
2464

534
544
560

730
730

732

735

775
829
829
829

868
937
970
1060
1061
1138

1151

102
Pages
Credit: (continued)
Voluntary Credit Restraint Program: (continued)
Information re sent to Senator Gillette in response to
5/28
statements of Ni'. Groszkruger
9/5
at meeting of FAC
Topic for discussion
Powell to be topic for discussion at
Report by Mr.
9/5
Presidents Conference
discussion of application to GovernApproved by FAG,
9/18
ment lending agencies
Conference by Mr. Powell and disReport at Presidents
cussion of actions being taken by various
10/4
Government agencies
11/20
at FAC meeting of effect of
Discussion
Credit unions:
aegulations T and U, application to arrangement for members of credit union to purchase registered securities of employer, similar to
case of Detroit Edison Employees' Credit
11/13
Union, advice to FRBank of Chicago
W and X, relaxation recommended in resolution
Regulations
of East Bay Chapter of California Credit
8/23
Union League
CI'llsade for Freedom, support promised by Chairman in letter to
9/24
Mr. Bartelt
allrrency:
Booker T. Washington Memorial half dollars, purchase by
FRBanks, not approved, advice to
7/12
Mr. Phillips
get coins back into circulation, request of
Campaign to
Director of the Mint that FRBanks conduct,
4/30
reply to
Coins, shortage, discussion at Presidents Conference of
inability of Treasury to meet FRBank re10/4
quirements, memo of Mr. Leonard
Coins, shortages of, reference to discussion at Presidents
Conference, staff to keep in touch with
10/15
Treasury Department
Collection of monthly data on currency movements from all
FRDistricts except Minneapolis with banks
at ports or on Canadian or Mexican borders,
8/17
approved
Dies, rolls, and plates to be removed to Fort Knox, Kentucky,
depository, Mr. Bartz designated as representative on committee for responsibility
3/29
of
accumulation, advice to FRBanks on retention of
Emergency
2/9
unfit
plans, authorization for officers of FRBank of
Emergency
Richmond to sign requests for, advice to
9/11
Treasurer of the U. S.




1205
1869
1870
1954

2060
2274

2242

1814
1992

1534
913

2046

2106

1767

706
312

1909

103
Pages
Currency: (continued)
FRnotes, specimen sets requested by FRBanks of Richmond
and Dallas and Board of Governors, ad8/9
vice to Bureau of Engraving and Printing
FRnotes, specimen sets requested by Treasury for education
of public in distinguishing between
counterfeit and legitimate currency, ad12/18
vice to Bureau of Engraving and Printing
Nickels, shortage of, letter to Senator Lehman re case of
9/7
Hanover Bank, New York
Pennies, shortage of, reply to letter from Congressman
Greenwood re case of Peoples National
9/7
Bank of Patchogue, New York
Reserve stocks of, advice to Mr. Earhart re work of Bureau
of Engraving and Printing and status of
3/20
FRnotes
Shipment by Treasury of silver ones to FRBanks and branches
to be held in special custody account,
8/31
FRBanks requested to advise amounts
Supplies of coins, reply to letter from FRBank of San
9/5
Francisco re inadequacy of

1720

24147
1885

1885

633

1851
1865

”Du
Nlesandro, Thomas, Jr., Regulation W, off-street parking
program of Baltimore, amendment approved
to exempt financing by municipalities of
needed nonresidential facilities, advice to
D ,
I)a.41 E. Q. Regulation X, protest re
avis, James C., Regulation X, reply to letter from Mr. W. H.
Forsyth re restrictions on existing houses
1)4vis, James 0, Regulation W, financing of home modernization,
repairs or improvements, relief requested
by Messrs. Smith and White of Atlanta,
reply to
1)awSon, William L., S. 1139 to change laws applicable to regulatory agencies of Government, report sent
to
beatils:

4/4
8/2

727
1676

2/9

316

4/9

748

4/30

917

Fort, Joel B., Jr., Vice President and Manager of Nashville
Branch, payment for accrued vacation leave
1214
at time of death not approved
Simmons, E. P., member of Industrial Advisory Committee of
2/21
MBank of Dallas
Staff of Board, settlement of accounts, memorandum re to be
3/14
distributed to staff
bebt, Government:
bm, FAC statement re placing outside banking system
2 0
/2
-ut, Public:
Effect on FRSystem, topic for discussion at meeting of FAC
11/14
with Board
Discussion at FAC meeting
11/20




2336
423
585
384

2251
2284

104
Pages
Deegan, Paul A., Editor of Stratford News, Stratford, Conn.,
5/16
Regulation X, reply to views on
Defalcations:
Banks, conference of representatives of bank supervisory
agencies suggested at Conference with
10/4
Presidents
detecting and preventing,
Conference to discuss means of
11/28
reference in letter to Mr. Sproul
where amount of
Insured banks, list of banks by States
defalcation exceeded amount of surety bond 5/4
Syracuse, New York, bank, letter to FRBanks giving details
and problem of audit and internal controls
8
/2
to be studied
1) fense construction areas:
e
7/9
Alamogordo-Tularosa, New Mexico, area approved
providing for relaxation of terms
Amendment to Regulation X
2/27
with respect to
and procedure under Regulation X to
Amendment to policy
provide for processing and approval of
4/30
exceptions
Arco, Blackfoot and Idaho Falls, Idaho, designation approved 3/29
6 6
/2
Barstow, California, area approved
7/3
approved
Borger, Texas,
6 6
/2
Brazoria County, Texas, area approved
8 0
/3
additional housing units approved
Programming of
6/5
Bremerton, Washington, approved
Camp Cooke, California, area approved, advice to Mr. Foley
6 1
/
Camp Lejeune-Jacksonville, North Carolina, approved
7/26
Camp Pendleton area, California, including Oceanside, Vista,
61
/1
and Carlsbad, approved
Camp Roberts, California, area, including Paso Robles, San
Miguel, and Atascadero communities ap6 6
/2
proved
Colo., designation approved
5 3
/
Colorado Springs,
7/16
Columbus, Indiana, area approved
5/1
Corona, California, designation approved
Dana Indiana, approved
,
7/3
7/26
Dover, Delaware, approved
El Centro-Imperial, California, approved
7/3
Fort Leonard Wood, Rolla, Missouri, designation approved
5/18
Hanford AEC Operations Area, Washington, including communities of Richland, Pasco, Kennewick,
Prosser, Grandview, and Sunnyview approved 6/26
7/3
Alabama, approved
Huntsville,
Idaho Falls, regulation of Housing and Home Finance Agency
4/11
approved by Board
Instructions of Housing and Home Finance Agency to suspend
credit controls for defense areas, approved
8/30
by Board
7/26
Killeen-Fort Hood, Texas, approved
Lancaster-Palmdale-Mojave, California, area approved
8 3
/




1096

2058
2316
981

1671
1516
446

932
698
1433

1483
1435
18145
1246
1229

1628
1293
1433
963
1552

937
11484
1628
1483
1118

1435
1483
785

18146
1629

1685

105
Pages
Defense construction areas: (continued)
Las Cruces, New Mexico, approved
79
/
7/26
Lone Star Steel Company, Texas, approved
7/9
Mineral Wells, Texas, approved
6/11
Miramar-Escondido Sub-area, California, approved
V31
Norfolk-Portsmouth, Virginia, area, approved
7/31
Othello, Washington area, approved
Paducah, Kentucky, letter to Mr. W. P. Allen on Regulation X 2/2
Paducah, Kentucky, and Savannah River area of South Carolina
2/22
mentioned as
7/26
Patuxent, Maryland, area approved
3/6
Procedure for implementing amendment to Regulation X
member of
Procedure for approval of, and appointment of
staff to attend meetings of Interagency
5/1
Critical Areas Committee
/
under Regulation X 6 19
Quad Cities, Iowa-Illinois, area approved
Executive Order
Residential credit restrictions in,
11/6
No. 10296
Ithaca), New York area, apSampson Air Force Base (near
7/31
proved
San Diego, Calif., letter to Housing and Home Finance
Agency designating as, and relaxing terms
4/24
of Regulation X
6/5
San Marcos, Texas, approved
Savannah River and Paducah, Kentucky, Installations of
3/6
AEC, approved
Savannah River, South Carolina, authorization for construction of additional units at present and
total of 3,600 as specified from time to
time, advice to Housing and Home Finance
5/25
Agency
Savannah River plant in South Carolina, construction of
temporary housing, survey of project to
determine need for relaxation of terms
of Regulation X requested, letter to
6 15
/
Housing and Home Finance Agency
5/15
approved
Star Lake, New York, designation
Tooele, Utah, area, including Magna and Grantsville communi6 6
/2
ties approved
6 1
/1
Tullahoma, Tennessee, approved
V aldosta, Georgia, approved
6 11
/
6 19
/
Vallejo, California, area approved
7/16
Wichita, Kansas, area, approved
bet, Wright-Patterson Air Force Base (Dayton) Ohio area, approved 7/31
ense contracts, report on S. 998 to facilitate financing of,
and for other purposes
5
/3
„
e"se Materials Procurement Agency, establishment under
8/31
Executive order, letter to iRBanks
bere„"se Mobilization Board:
Inflation, memorandum of Chairman McCabe re actions to
1/16
combat, discussion of, to be sent to




1514
1627
1515
1294
1656
1657
243
413
1627
503

938

1371
2211

1656
878
1246
499

1192

1351
1083

1434
1293
1295
1371
1553
1656
974

1851
124

106
Pages
Defense Mobilization Board: (continued)
Statement of Chairman McCabe at meeting, memorandum re means
to combat inflation to be sent to
Defense Production Act of 1950:
Reports, semi-monthly re activities to be submitted to Joint
Committee on Defense Production, advice to
Mr. McKenna
Bill to amend and extend, no objection to approval by
President
Defense Production Administration:
Guarantee fee, waiver in individual case of Harvey Machine
Company, not favored but modification of
schedule being considered, advice to
Mr. Harrison
Defense production loans:
Acme Electronics, Inc., loan by California bank of Los
Angeles, commitment fee to accrue from
date of execution of agreement, advice to
FRBank of San Francisco
Air Force Procurement Offices, revised list of addresses
and areas serviced sent to FRBanks
Amendment to Regulation A (S-1290), and National Bank Loan
Limitations (6-1299), statements to be
published in FRBulletin
APplications:
For guarantees, procedure for forwarding Air Force,
advice to FRBanks
Memo from Mr. Vardaman at meeting of FAC
Filed with FRBanks, review by Mr. Boothe
Navy guarantee, procedure for forwarding copies to
Board, advice to FRBanks
V-loan guarantees, effect of Act of May 15, 1951, amendment to Assignment of Claims Act of 1940,
on, advice to Senator Maybank
Assignment of Claims Act of 1940, amendment recommended,
clearance requested from Bureau of the
Budget
Need for amendment to, information requested from
FRBanks
Proposed amendment to, memorandum of information from
FRBanks re need for, sent to Bureau of the
Budget
Amendment to, draft sent to Bureau of the Budget, for
clearance
Amendment to facilitate program, letters to Senator
Maybank and Congressman Celler approved
Amendment favored by FAC to make operation of program
for small contractor more effective
Amendment, reply to letter from Senator Robertson
Amendment to, urgent need for, matter to be discussed
by Chairman McCabe with Mr. Weinberg of
ODM and Senator Robertson




1/11

98

1/26

207

7/30

1642

3/22

649

5/28

1204

9/10

1900

4/13

811

4/10
5/15
5/22

774
1064
1151

6/6

1262

6/21

1392

1/10

91

1/22

160

1/29

208

2/9

318

2 13
/

328

2/20
2/20

401
409

2
/27

145

107
Pages
Defense production loans: (continued)
Assignment of Claims Act of 1940: (continued)
Amendment to, draft of statement to be read by Mr. Vest
3/6
at hearing approved
Amendment to, H. R. 2947 and S. 998 introduced, views
of Mr. Winthrop B. Lane on Language of
3/22
Amendment signed by President, statement at FAC
meeting
5/15
Amendment to, copies of Act sent to FRBanks and
branches
5/25
Atomic Energy Commission, designation as guaranteeing
agency, advice to FRBanks
3/15
Availability, statement of FAC favoring
2 0
/2
Borrowings from financing institution outside proposed
V-loan, memo from Defense Department re
cases where loan agreement permits, advice
to FR Banks
4/27
Central Intelligence Agency, application for guarantee of
loan not likely to be considered by guaranteeing agencies, advice to FRBank of San
Francisco
10/16
Covenants for assignments of Government contracts as collateral for, procedure for, advice to
FRBank of Chicago
3/6
Defense Production Act of 1950, proposed amendments,
creation of additional credit facilities
not favored, advice to Mr. Wilson
3/9
Defense Production Act, draft bill of amendment to, changes
in language suggested, advice to Mr. Berg3/23
son
Disbursements and collections, copies of certificate of
deposit to be sent to Accounting officer
for transmittal to Disbursing Officer,
advice to FR3anks on procedure
7/11
Executive order re loans authorized by section 302 of Defense
Production Act of 1950, report to Bureau of
the Budget on proposal
6/20
Executive order delegating certain functions of President
under Defense Production Act of 1950, small
business part in defense production, report
to Bureau of the Budget
6/6
Executivo Order No. 10281, advice to FRBanks re establishment of Defense Materials Procurement
Agency and designation as guaranteeing
agency under Defense Production Act
8/31
Fees:
Mr. Phelan to testify before subcommittee of House
Judiciary Committee on Study of Monopoly
Power re
2/8
Termination, premium or fee on account of prepayment,
service, etc., prohibited, advice to
FRBanks
24/8




505
651
1065
1193

602
384

902

2117

501

550

663

1528

1380

1263

1851

269

279

108
Pages
Defense production loans: (continued)
Fees and interest rates on V-loans, comments of FRBanks
to be requested before consideration of
change in
Comments of FRBanks requested
Schedule of, no change to be made at present following
receipt of comments from FRBanks, but
matter to be studied further, advice to
Congressman Celler
Schedule, no change to be made at present, advice to
Congressman Celler
Florida, letter from Mr. Green to Congressman McMullen re
difficulty in securing
FR 577 and 579, copies and instructions sent to FRBanks
Guarantee agreement, question of liability of guarantor
under amendment to, advice to FRBank of
Chicago re letter from Harris Trust and
Savings Bank of Chicago
Statement sent to National Security Resources Board re
developments in work
Amendment to standard form approved, advice to FRBanks
Amendment to form, statement to be published in
FRBulletin
Report to Joint Committee on Defense Production
Procedure to be followed, advice to FRBanks
Amendment to form, statement to be published in
FRBulletin
Interpretation in proposed letter to FRBanks, comments
from Departments of Commerce, Interior,
and Agriculture and General Services Administration requested
Amendment for use of Northrup Aircraft not approved,
advice to FRBank of San Francisco
Changes in standard form, views of Departments of
Army, Navy, Commerce, Agriculture, and
Interior, and General Services Administration and Atomic Energy Commission requested
G uarantee fee:
Waiver in individual case of Harvey Machine Company,
not favored but modification of schedule
being considered, advice to Administrator
of Defense Production Administration
Computation from date of execution of guarantee agreement, advice to FRBank of San Francisco
Revised schedule suggested by Mr. Larson, Comments of
guaranteeing agencies to be requested
before reply, letter to Department of
Army and other agencies
Guaranteed loans, reports to be submitted on Form 579,
advice to FRBanks
Reports, supply of Form FR 579 as revised and instructions sent to FRBanks




2/13
2/15

327
351

3/22

646

4/11

779

7/25
3/12

1621
568

1/9

84

1/12
1/16

116
134

1/16
1/26
2/5

136
207
250

2/12

326

3/12

567

4/3

722

4/30

921

3/22

649

6 7
/

1274

6
/28

1446

2/1

231

2
/23

433

109
Pages
Defense production loans: (continued)
H. H. 3733, to disallow amortization deduction in renegotiation of contracts, report to Bureau of
the Budget
5/14
6
/12
Report to Bureau of Budget
11/20
Housing, discussion at meeting of FAC of status
Ideal Tool and Laboratory Company of Cheyenne, eligibility
for V-loan financing of defense contracts,
application of American National Bank of
Cheyenne for guarantee of loan to be transmitted to defense agency upon receipt, ad12/5
vice to Senator Hunt
Interest on advance payments to defense production contractors, advice to FRBanks
4/17
Kansas-Missouri flood disaster rehabilitation, to be discussed at meeting of Emergency Washington
Committee on Flood Relief, question of
Board representative because of absence
8 13
/
of Mr. Vardaman
Legislation to provide for extension of functions re, advice
1/18
to Office of Defense Mobilization
Machine tool industry, assistance from GSA for financing,
member banks to advise financing institutions, information sent to FRBanks
9/24
McDonnell Aircraft Corporation v. Commissioner of Internal
Revenue, question of appeal by Bureau of
Internal Revenue of decision of Tax Court,
6 6
/2
advice to Office of Defense Mobilization
1
00 per cent guarantees, policy re not formulated, advice
3/20
to Secretary of the Interior
Participations by FitBanks under Section 13b for financing
6
/25
defense contractors, advice to FRBanks
Petroleum Administration for Defense, financing of program
to stockpile 75 million pounds of TEL,
procedure approved
8
/7
Policies and procedures applicable to accounting for guaranteed loan programs, revised directive from
Department of Defense re, copies sent to
6 12
/
FRBanks
Program, steps to make operation more effective for small
defense contractor, to be discussed at
FAC meeting
2/1
Quality Electric Company, Ltd., indebtedness under V-loan
guaranteed as to 75 per cent by Department
of Army, advice to Brig. Gen. Mickelwait
1/19
Regulation A, amendment to exempt defense loans from
negotiability requirement approved, advice
to FRBanks
3/21
Regulation V loans, resolution of Commission on Small
Business for California recommending that
FRBanks be authorized to approve
6/11




1050

1320
2277

2363
845

1731
144

1990

1428
631

1413
1693

1321
235

153

637

1284

110
Pages
Defense production loans: (continued)
Reimbursement of expenses in connection with, advice to
3/7
FRBank of San Francisco re procedure
Report on guaranteed loan program to be made at Tuesday
4/10
Board meetings
Report to be made at meetings of Board bi-weekly instead
4/17
of weekly
Section 13b loans to small businesses, topic for discussion
at Presidents Conference, advice to
9/20
FRBanks
Relationship to V-loan program, discussion at Presi10/4
dents Conference
Reference to discussion at Presidents Conference in
connection with use as part of V-loan
10/15
program
Subcontracts:
Qualifications imposed by purchasers in connection with
assignments, copy of memo from Department
of Defense sent to FRBanks and advice re
/
7 3
requested
Requirement that subcontractors permit general right of
setoff against payments due under, Messrs.
Boothe and Hackley to meet with Mr. llyas
11/20
for discussion of practice
Termination fees, prohibition approved subject to consulta1/16
tion with guaranteeing agencies
V-1oan guarantees, statements of criteria and principles
from National Security Resources Board,
1/15
copy sent to FRBanks
Compliance of form with Exception 10 to section 5200
of Revised Statutes and when to be considered "unconditional", copy of letter
from Deputy Comptroller of the Currency
4/9
sent to FRBanks
4/17
Report on status presented by Messrs. Noyes and Boothe
interpretation re, advice
Amendment to standard form,
4/17
to FRBanks
advice to
Policy statements re certain questions,
4/17
FRBanks
numbers of prime
Applications, procedure for listing
contracts, further advice from Department
4/25
of Army sent to FRBanks
Comptroller's
Program of General Services Administration,
Order No. 50 re policies and procedures,
4/30
copy sent to FRBanks
5/1
Program, report of Mr. Boothe on
Amount and maturity, memo from Department of Defense on
5/3
guiding principles sent to FRBanks
Borrowers, compensation paid to executives of, memo from
5/3
Department of Defense sent to FRBanks




513

757
829

1978

2049
2106

1489

2291
131

121

748
829

842
843

891

922
936

973
973

111
Pages
Defense production loans: (continued)
V-loan guarantees: (continued)
Financing for manufacturers of machine tool pool orders,
information from GSA re procedure for,
5/7
advice to FRBanks
Acceptance of qualified assignments as security for,
/
6 21
advice to FRBank of San Francisco
Applications, financial statements of all proposed
guarantors to be submitted with, FRBanks
advised re ruling of Department of
7/10
Air Force
Extension of effective time of Army, Navy and Air Force
7/18
authorizations, advice to FRBanks
Revised schedule of fees for construction of industrial
facilities, adoption not approved, advice
7/31
to Mr. Larson
9/5
Topic for discussion at meeting of FAC
Guaranteed by Military Departments, memo from Office of
Asst. Sec. of Defense re procedure for
effecting increases in amount or changes
in terms and conditions, advice to FRBanks 9/6
Statistics, number of employees of borrowers requested
9/7
on FR 577, advice to FRBanks
Computation of commitment fee on undisbursed portion of
loan, comments of Department of Army re9/10
quested on proposed letter to FRBanks
banks in U. S. from September 1950 to
Privately-owned
9/11
July 31, 1951, press statement re amount
to be discussed at next meeting of Presidents
Program
Conference, with special reference to
9/17
authority for use of 13b loans
Delays in processing applications, discussion at FAC
9/18
meeting of means for avoiding
Applications, reports of investigation to include data
on number of employees of borrower, advice
9/21
to FRBanks
Commitment fees not to exceed 1/2 of 1 per cent per
annum of average daily unused balance of
maximum principal amount of credit, advice
10/4
to FRBanks
Applications, delays in processing, question of discussion by FAC with representative of Depart11/8
ment of Defense
Practices and procedures of FRBanks in establishment
and supervision of, narrative descriptions
to be furnished to Department of Defense,
11/20
advice to FRBanks
Volume of bank loans during first half of 1951 to increase,
2/20
statement of FAC
Volume of, and prospects for next six months, discussion at
5/15
FAC meeting with Board




988
1391

1521
1571

1663
1669

1878
1888

1902
1921

1942
1959

1982

2065

2218

2292
399
1054

112
Pages
nefense production loans: (continued)
Voluntary agreements:
Statement of principles, Messrs. Powell and Vest
1/11
authorized to present views of Board re
committee, copy to
Program approved subject to full
be submitted to Attorney General and to
Federal Trade Commission, meeting of committee to be called after receipt of
1/23
comments, advice to Mr. Sproul
Meeting in New York to be attended by Messrs. Powell
and Vest, program to be worked out by
2/1
representatives of financing institutions
2/1
To be discussed at FAC meeting
Attorney General, Federal Trade
Program for, letters to
Commission, ABA and others, copies sent to
FRBank of New York
2/5
Program for Credit Restraint approved, advice to kRBanks
2/7
re procedure
Program and Request resubmitted to Attorney General and
2/16
Federal Trade Commission for approval
2/20
Program favored by FAC
Program, support favored by FAC
2/20
Question of FRBank representation on subcommittees,
Chairman McChbe and Mr. Powell to discuss
matter with Attorney General McGrath or
2/27
Assistant Attorney General Ford
Amendment to Program re FRBank representation on sub3/2
committees, comments of FRBanks requested
Amendment to program re membership of Federal Reserve
representatives on subcommittees, advice
to Attorney General and Federal Trade Commission
3/5
Voluntary Credit Aestraint Committee:
Mr. Powell to submit recommendation to Board, press release to be issued after establishment
3/5
3/6
Members of
Savings banks and building and loan associations to be
represented on, Mr. Powell to submit names 4/5
Voluntary Credit Restraint Program:
Request approved, all financing institutions in U. S. to
be advised
3/9
Copy of Request and Finding submitted to Attorney General
and Federal Trade Commission
3/9
Discussion at Presidents Conference of membership, functions, and minutes of subcommittees
3/9
Letter from Acting Attorney General approving Request,
question of releasing to lending institutions for inspection
4/5
Amendments approved, copies of new Request sent to
Attorney General and Federal Trade Commission for approval
4/5




105

163

228
235

251
266
363
383

403

455
480

484

486
496
731
534

544
560
730
732

113
Pages
Uefense production loans: (continued)
Voluntary Credit Restraint Program: (continued)
Placard for banks, insurance companies, and investment banking institutions, preparation
and distribution approved
4/5
As amended, finding, and Request approved, advice to
Attorney General and Federal Trade
4/20
Commission
Topic for discussion at meeting of FAG
9/5
a fense program:
Fiscal and monetary actions to meet requirements, to be
2/1
discussed at FAG meeting
Fiscal and monetary actions to meet requirements, state2/20
ment of FAC and discussion of
Priorities for materials, machine equipment, etc., Division
of Bank Operations to assist in Washington,
to be under supervision of Mr. Myrick or
Mr. Farrell as alternate, advice to
FRBanks
4/2
nemPseY, ticivrin A., Regulation WI television sales, request for
5/10
relaxation of requirements not approved
Deo,
M Robert NADA, Regulationli conference re problems in
.
,
1/26
western section to be held, advice to
rlePartment of Agriculture:
Guarantee agreement, interpretation in proposed letter to
3/12
FRBanks, views requested
Loans, booklet in Kansas City district on restrictions imposed by Voluntary Credit Restraint Program,
discussion at Presidents Conference
10/4
ilegulations W and X, enforcement procedure, information to
be furnished to FRBanks re Registrants,
letter to Mr. Duggan requesting
3/16
be
Partment of Air Force:
Procurement Field Offices and areas serviced, revised list
sent to FRBanks
9/10
benn
--rument of Army:
Guarantee fees on V-loans, revised schedule suggested by
Mr. Larson, comments of guaranteeing
agencies to be requested before reply,
letter to Lt. Gen. R. S. McLain
6
/28
Quality Electric Company, Ltd., indebtedness under V-loan
guaranteed as to 75 per cent by, advice to
Brig. Gen. Mickelwait
1/19
an program, computation of commitment fee on undisbursed
portion of loan, comments requested on proposed letter to FRBanks
9/10
13artment of Commerce:
Credit controls, extension to new construction in commercial
field, comments of Mr. Harrison requested
1/23
Guarantee agreement, interpretation in proposed letter to
FRBanks, views of Secretary Sawyer requested 3/12




735
868
1869
235
382

714
1019
203

567

2061

611

1900

1449
153
1902

178
567

114
Pages
DePartment of the Interior:
Defense production loans, 100 per cent guarantees, policy
re not formulated, advice to Secretary
3/20
Chapman
Guarantee agreement, interpretation in proposed letter to
3/12
FRBanks, views requested
Stein, Weldon A., FRBank of St. Louis, granted leave with
1/16
pay for assignment with
Department of Justice:
Aluminum Home Improvement Company, additional information
9/11
under Regulation W requested by
Clyde Fitz and Blanche E. Fitz, d.b.a. Northwest Finance
Company, Hamilton, Mont., violations
9/4
of Regulation W, referred to
Exchange of publications between Board and USSR, survey
12/18
of arrangements re sent to Mr. dhearty
Homecraft Products, Inc., Peoria, Ill., Regulation W
11/15
violations, referred to
Industry Advisory Committees, functions under Regulation X,
advice to Mr. Morison in connection with
complaints concerning failure to comply
10/2
with established standards of
Interstate checks returned for "No account", Nashville
Branch requested to furnish description of 6/27
Kiting of checks by George Henry Lane, Jr., between accounts
at First Security Bank of Idaho, National
Association, Boise, Idaho, and Continental
State Bank, Boise, Idaho, not considered
7/18
criminal violation, advice to
Legislation, proposals for State legislation, none to be sub7/27
mitted by Board at present, advice to
Mattlin, Robert, d.b.a. Music Shop, East Cleveland, Ohio,
9/4
Regulation W violation, referred to
Minnesota Soft Water Company, Minneapolis, Minn., Regulation
/5
11 1
W violations, referred to
Public Loan Corporation, Walter L. Boynton, and Herman
Bryan Hamric, d.b.a. Hamric Motor Sales,
San Francisco, Calif., violations of
6/19
Regulation W, no decision reached as yet
5/10
1
.iegulation W cases of violation procedure for reference to
liegulation W enforcement procedure, reply to letter from
8 14
/
Mr. Townsend
Regulation 4 violations:
A. Harris, d.b.a. A. Harris Motor Sales, Pittsburgh,
12/13
Penna., referred to
Aldon Construction Company, Inc., Belleville, N. J.,
12/13
referred to
Aluminum Home Improvement Company, Des Moines, Iowa,
/
8 20
referred to
Barney Roth Company, Inc., Philadelphia, Pa., case
12/20
referred to




631
567
132

1919

1863
2448
2263

2036

1443

1570
1640
1863
2263

1368
1008

1742
2412
2412
1782
2477

115
Pages
Department of Justice: (continued)
Regulation W violations: (continued)
Clement B. DeRose, d.b.a. Genessee Construction
Company, South Bend, Ind., matter
referred to
Contractors Roofing and Siding Corporation and Cooperative Construction Company, Inc.,
Nutley, N. J., referred to
Illinois Improvement Co., Inc., Peoria, Ill., matter
referred to
Jet Appliance Company, New Orleans, La., referred to
Julius Star, Battle Creek, Michigan, referred to
Lange, Walter L., (d.b.a. Lange Television Sales),
question of referring to, to be determined
after report of order directing investigation
Leo Berman, d.b.a. Leo Berman Hardware and Appliances,
Chicago, Ill., referred to
Corporation, Walter L. Boynton and Herman
Public Loan
Bryan Hamric, d.b.a. Hamric Motor Sales,
case referred to for action
Raleigh Finance Company, Philadelphia, Pa., case
referred to
Reports of four cases sent to
Rosen's, Inc., Baltimore, Md., case referred to
Semmons Furniture Company, Columbia, Mo., case referred
to
Teal Bros., Inc., Detroit, Mich., Regulation W violation referred to
W. H. Brandbo, d.b.a. Brandbo Motors and Clyde Fitz
and Blanche E. Fitz, d.b.a. Northwest
Finance Company, Hamilton, Montana,
referred to
Security risks, reply to letter from Mr. Wheart re
procedure for employment at Board
Violations of Regulations W and X, procedure for reference
to, to be reviewed by Mr. Norton with
Messrs. Townsend, Vest, and Carpenter
t-- r-Lment of Navy:
,
Applications for V-loans to be guaranteed by, letter to
FRBanks on procedure for submitting
be),
P4rtment of State:
Committee on International Security Affairs, participation
of members of Board's staff in work, letter
to Mr. Cabot
Fourth Meeting of Consultation of Ministers of Foreign
Affairs of American States, services of
Messrs. Woodlief Thomas and David Grove
to be available to U. S. delegation
International conferences, Board representation at,
advice to




8 2
/0

1782

1/
2 13

2412

8 2
/0
12/13
12 13
/

1782
2412
2412

5/1

940

8/20

1782

5/8

992

12/20
6 1
/9
9/4

2478
.1369
1863

11/15

2263

9/4

1863

9/4

1863

9/4

1861

6/19

1368

6/6

1262

5/9

1005

79
/

1509

62
/7

3444

116
Pages
IDePartment of State:(continued)
Validation procedure for dollar bonds of German issue in
U. S., participation of FRSystem in,
advice to Mr. Kearney
5/9
Deposits:
Bank Shares Incorporated, issuance of employees' fund
certificates and corporate notes, question
of violation of section 21 of Banking Act
1/10
of 1933
Senator Wiley re inquiry from
Bankruptcy funds, advice to
12/19
Mr. Omernik
Cash collateral accounts held by member banks against outstanding commercial letters of credit,
considered deposits for purposes of reserve
8/6
requirements, advice to FRBanks
interest by national bank in violation
Indirect payment of
of Regulation Q, letter to Acting Comptroller of the Currency
9/7
Interest on, six months equal to 180 days, statement to be
3/15
published in March issue of FRBulletin
Interest payments during first few days, amendment to
Regulation Q suggested, comments of
FRBanks and information re general
practices in Districts requested
8 15
/
Interest rates, changes in New York on deposits by State
savings banks and State commercial banks,
effect on national banks, advice to Mr.
12/19
William A. Lyon
Post office funds deposited with FRBanks and branches
through use of registered mails, views
6
/27
of Presidents requested
Time deposit accounts, amendment to agreements to provide
for 90 days' notice of dithdrawal and
interest at 1-1/4 per cent, not in violation of Regulation Q, advice to FRBank of
1/10
San Francisco
Ttme, no objection to payment by member bank of interest at
rate not exceeding 2-1/2 per cent on deposit
maturing 180 days after its date, advice to
2/20
Frost National Bank of Saa Antonio, Texas
Time, inconsistency in definitions of types, to be considered when revision of Regulation Q
6 11
/
occurs, advice to FRBank of New York
Time, rates of interest on under Regulation Q, advice to
Mr. Cecil H. Berry, President, Bloomfield
Bank and Trust Company, Bloomfield, N. J. 11/23
estr t.
ue Ion of records:
Emergency plans for protection of records, approved
4/17
Foreign exchange control program under Executive Order of
January 26, 1918, list of records at
FRBank of New York re sent to National
7/27
Archives




boob

95
2455

1687
1887
603

1750

2456

1441

96

408

1282
2299
833

1640

117
Pages
Destruction of records: (continued)
3/19
List of records aoproved
Los Angeles Stock Exchange, requests for extensions of time
under section 4 of Regulation T, preservation not required after two-year period,
12/5
advice to FRBank of San Francisco
peWey, H. C., Regulation X and lumber prices during 1951, reply
9/27
to letter sent to Senator McKellar
cieWolfe, Harold, Regulation W, taxicabs, change in provisions
1/19
favored by
Dickerson, Lynn, Regulation W, application to sales of tele4/12
vision sets
television sets and trade-ins as
Regulation W, sales of
down payments, advice to Congressman Thomas 4/27
4n1ng rooms:
Blue doom, memo on reservation by members of Board for
9/11
luncheon approved
Di
nners:
Auditors? Conference, budget of Division of Examinations to
5/22
be increased to cover cost
Conference, payment of costs of dinner and
Chairmen's
11/28
luncheons, etc., approved
3/23
McCabe, Thomas B., arrangements and cost approved
Savings bond program, payment of expenses, Board to make
no blanket commitment but to assist on
certain occasions, Mr. McDonald to be
5/31
advised
e
rector of the Mint:
Campaign to get coins back in circulation, reply to
4/30
Mr. Howard
Coins, inadequate supply of, letter of Mrs. Ross to
FRBanks and press release re, advice
9/5
to Mr. Earhart
ectors, FRBank of Atlanta:
9/11
Harris, Rufus C., Deputy Chairman, appointment approved
Neely, Frank H., Chairman and FRAgent, designation approved 9/11
9/11
Re1nho3d, Paul E., Class C, appointment approved
" ctors, FRBank of Boston:
e
Compton, Karl T., Class C., Chairman of FRBank of Boston to
ascertain if willing to accept appointment
1/30
if tendered
2/1
Appointment for unexpired portion of term
Hodgkinson, Harold D., Chairman and FRAgent, designation
9/11
approved
Stevens, Ames, appointment as Class C director and designa9/27
tion as Deputy Chairman
bire
cuors, FRBank of Chicago:
Classification of member banks for election purposes, no
change to be made at present, matter to
be considered again before end of year,
advice to Mr. Young
9/7
11/28
Change for Class A and Class B directors approved




617

2364
2019
153
799
903

1904

1162
2321

666

1218

913

1865
1913

1912
1912

217
230
1912
2013

1886
2317

118
Pages
Directors, FRBank of Chicago: (continued)
9/11
Coleman, John S., Deputy Chairman, appointment approved
and FRAgent, appointLunding, F. J., Class C., Chairman
9/11
ment and designation approved
Directors, FRBank of Cleveland:
Brainard, George C., Chairman and FRAgent„ designation
9/11
approved
9/11
appointment as Class C director approved
Rummell, Leo L.,
r. Virden, John C., Deputy Chairman, appointment approved
9/11
L/I-rectors, FRBank of Dallas:
Anderson, R. B., Class C, appointment and designation as
9/27
Deputy Chairman approved
9/11
n. Parten, J. H., Chairman and FRAgent, designation approved
'lrectors, FRBank of Kansas City:
Caldwell, Robert B., Chairman and FRAgent, designation
9/11
approved
9/11
Hague, Lyle L., Class C, appointment approved
9/11
Mehornay, Robert L., Deputy Chairman, appointment approved
ectors, FRBank of Minneapolis:
9/11
Cochran, W. D., Deputy Chairman, appointment approved
Flodin, F. A., to be appointed as Class C director for unexpired portion of term if willing to
12/27
accept
12/28
unexpired portion of term
Appointment for
9/11
Miller, Paul E., Class C, appointment approved
remaining portion of
Deputy Chairman, appointment for
12/27
1951 and for 1952
FRAgent, designation
Shepard, Roger B., Chairman and
9/11
approved
ireotors, FRBank of New York:
Armstrong, Frederick Palmer, Class A, nomination recommended, no objection to service as
Commissioner of Port of New York
9/25
Authority
Stevens, Robert T., Chairman and FRAgent, designation
9/11
approved
9/11
14Yer3, William I., Class C, appointment approved
9/11
Deputy Chairman, appointment approved
bire
etors, FRBank of Philadelphia:
Balderston, C. Canby, Deputy Chairman, appointment approved 9/11
Meinel, William J., Class C, appointment for unexpired
portion of term approved, formerly Class B
director
/3
8
9/11
Appointment approved
Whittier, Warren F., Chairman and FRAgent, designation
9/1a.
approved
131.1 e
,
of Richmond:
Ft°rs, FRBank
McCormick, Charles P., Chairman and FRAgent, designation
9/11
approved
Woodward, John B., Jr., Deputy Chairman, appointment
9/11
approved
WYsor, W. G., Class C, appointment approved
9/11




1913
1912
1912
1912
1913

2013
1912

1912
1912
1913
1913

2501
2510
1912
2501
1912

1998
1912
1912
1913
1913

168o
1912
1912
1912
1913
1912

119
Pages
Directors, FRBank of St. Louis:
Bryce, Wm. H., Deputy Chairman, appointment approved
Dearmont, Russell L., Chairman and FRAgent, designation
approved
Kreisle, Magnus J., Class A, no objection to service as
member of board of trustees of Evansville State Hospital
Moore, Joseph H., Class C, appointment approved
'
I-rectors, FRBank of San Francisco:
Sherrill, Fred G., Class CI appointment to be tendered if
willing to accept
Action approving appointment for three-year term
rescinded
Wallace, Wm. H., Jr., Deputy Chairman, designation
approved
Wellman, Harry R., Class C, reappointment for three-year
term approved
Wilbur, Brayton, Chairman and FRAgent, designation
approved
Directors, FRBanks:
Class C:
Appointment for terms of three years approved
Appointments, additional recommendations to be considered as soon as possible
Classification of member banks for election purposes, no
change to be made at present, matter to
be considered again before end of year,
advice to FRBank of Chicago
Identification cards, issuance approved
Meetings, series of six at Board suggested by Chairman
Martin, to be considered further
—"ors, FRBranch banks:
Appointments approved
APPointments, additional recommendations to be considered
as soon as possible
Baltimore:
Decker, A. G., Jr., appointment for three-year term to
be tendered if willing to accept
Appointment for three-year term
Banking interests, connection of Mr. Frank M. Browning of
Salt Lake City Branch with proposed Bank
of Utah
Birmingham:
Bottcher, Edwin C., appointment for three-year term to
be tendered if willing to accept
Appointment for three-year term
Buffalo:
White, Clayton, appointment to be tendered if willing
to accept
Appointment for three-year term




9/11

1913

9/11

1912

10/23
9/11

2147
1912

9/27

2014

10/8
9/27
10/8

2073
2013
2073

9/11

1912

9/11

1911

9/25

1999

9/7
9/27

1886
2024

61
/9

1363

9/11

1913

9/25

1999

9/11

1913

9/19

1964

12/3

2332

9/11
9/28

1914
2029

9/27
10/2

2014
2039

120
Pages
Directors, FRBranch banks: (continued)
Charlotte:
Taylor, Paul T., to be appointed for three-year term if
10/15'
willing to accept
10/16
Appointment for three-year term
Cincinnati:
Hahne, Ernest H., appointment for term of three years
9/11
Denver:
Puckett, Cecil, appointment for two-year term
9/11
Detroit:
Day, William M., appointment for two-year term
9/11
El Paso:
Dick, James A., Jr., appointment to be tendered if
willing to accept
9/27
Appointment for three-year term
10/5

2106
2116

1913
1913
1913
2014
2071

Helena:
Denecke, W. A., resignation accepted
1/2
Milburn, G. R., appointment for unexpired portion of
term approved
1/11
Appointment for two-year term
9/11
Houston:
9/27
Stewart, Ross, appointment for three-year term
Identification cards, issuance approved
9/27
Jacksonville:
Miller, J. Hillis, appointment for three-year term
9/11
Little Rock:
Nichols, Shuford R., to be appointed for three-year term
10/15
if willing to accept
10/18
Appointment for three-year term
Los Angeles:
Helms, Paul H., appointment for two-year term
9/27
Louisville:
McBride, Pierre B., appointment for three-year term
9/11
Meetings, series of six at Board suggested by Chairman
Martin, to be considered further
6 19
/
Memphis:
Robertson Caffey, to be appointed for three-year term
if willing to accept
10/15
Appointment for three-year term
10/18
Stratton, Leslie M., Jr., service as director of Union
Planters National Bank and Trust Company,
Memphis, Tenn., no objection to continuation for remainder of term
2/15
Nashville:
Meacham, H. C., appointment for three-year term
9/11
New Orleans:
Fletcher, Joel Lafayette, Jr., appointment for threeyear term approved
10/8
Lee, Jordon G., Jr., appointment for three-year term
to be tendered if willing to accept
9/11
Action approving appointment for three-year term
rescinded
10/8




11
108
1913
2013
2024
1913

2106
2133
2013
1913
1363

2106
2134

350
1913

2073
1914
2073

121
Pages

Directors, FRBranch banks: (continued)
Oklahoma City:
Cotton, Cecil W., appointment for two-year term
9/11
Omaha:
Seacrest, Joseph W., appointment for two-year term
9/11
Pittsburgh:
Hood, C. F., appointment to be tendered if willing to
'accept
9/27
Appointment for three-year term
10/2
Portland:
Frank, Aaron M., appointment for two-year term
9/11
Salt Lake City:
Browning, Frank M., appointment for two-year term
9/27
Connection with proposed Bank of Utah, additional
information requested from FRBank of San
Francisco to determine continuation of
services at Branch
12/3
Resignation to be submitted when becoming actively
engaged in commercial banking, advice to
FRBank of San Francisco
12/18
San Antonio:
Drought, Henry P., appointment for three-year term
9/27
Seattle:
MacDonald, D. K., appointment to be tendered if willing
to accept
9/20
Appointment for two-year term approved, services as
commercial bank director to be discontinued
and no political office to be held
9/24
41lectorst meetings, letter of FDIC re, discussion of question
at meeting, statement of Mr. Powell on
11/27

asters
:

Floods in Middle West, relief for and restoration of general
economy, letter in reply to memo of Mr. Wilson
approved
7/24
ans
Kas and Missouri floods, financial assistance for business
concerns, RFC authority to be used and FRSystem to cooperate
7/18
Kansas-Missouri flood disaster rehabilitation, status report
and comments on disaster bills sent to
Mr. Howse
8/13
loods in Midwest, Amendment to Regulation X re dropped
8/28
Mr. Leedy to serve as Chairman of Committee on Financial Problems of Flood Disaster
8/16
kriA
„ends:
FRBanks, semiannual payment approved:
For first half of 1951
, For last half of 1951
14Ing Bell Lumber Co., Class A common, not subject to
section 6(g)(3) of Regulation T
14arine Midland Corporation, Jersey City, N. J., dividend
policy of, advice to FRBank of New York




1913
1913

2014
2039
1913
2013

2332
2446
2013

1979
1986

2307

1611

1565

1729
1827
1763

6 5
/2

1416

12/21

2481

12/13

2410

8 2
/4

1820

'
pocket:
Board communications and procedure for sending Board representatives outside of Board circles for
contact, to be discussed at meeting of
August 7, 1951
7/26
Budget preparation for 1952, to be subject for discussion
at Board meeting on September 20
9/11
Draft of legislation on loan expansion reserve plan to be
presented at next meeting
2/27
Information of important matters to be read at Board
meeting, suggestion of Mr. Vardaman
12/6
Meetings of Board, to list specific items
14
/
Memoranda circulated to Board members for consideration
prior to meeting, copies to be supplied
to Board members
9/11
Retail credit survey for 1951, resumption proposed, to be
considered at next meeting of Board
11/15
Do
dge Window Company of Oak Park, III" Regulation W, application to combination storm windows and
screens manufactured and sold by
1/4
Do
ig, Thomas W., Regulations W and X, resolution recommending
relaxation in connection with credit
unions
8/23
Bottle
Du
ro, George A., Regulation W, letter re purposes sent to
1/9
ggan, I. W., Department of Agriculture, Regulation X, application to short-term construction
credit for farm residence
1/10
Regulation W, loans by production credit association to
member-farmers, reply to letter from
6/5
0
1 1141n,„
-" , Alexander E., Regulation W, reply to comments re exemp41
tions for veterans
1/3
Npiw
4) Reg F., Regulation X, Section 2(i), maximum loan value,
advice re formulation of Regulation and
consultations with real estate experts
9/27

122
Pages

1626
1914
457
2368
31

1914
2258

35
1814
87

91
1253
24

2021

Ekrl
,
') D. M., Regulation X, letter to Congressman Talle on
registration under
7/2
ttl
r"-ings and dividends:
FR 107b, earnings and dividends, forms and instructions sent
to FRBanks for semiannual report
5/31
RePorts of State member banks for 1951, copies of form
FR 107 sent to FRBanks
11/30
h
'
- 4-1-11-gS and expenses:
4s41RBanks for 1950, press statement re, advice to FRBanks
,
1/4
azd, James O., Regulation W, trade-in as down payment on
sale of appliances, petition of Jackson,
Miss., citizens sent to Select Committee
on Small Business
3/19




1470

1220
2328

34

616

123
Pages
Eberharter, Herman P., H. R. 3733 to disallow amortization
deduction in renegotiation of contracts,
6 12
/
introduced by
Eco
nometrica Society, expenses and official leave authorized
12 1
/8
for attendance at meeting in Boston
F..
c°nomic Cooperation Administration:
Jaffy, Florence I., service as technical adviser at Hearings
7/20
in Paris approved, expenses to be paid by
Morrill, Chester, recommended as advisor to Chinese Ministry
of Finance re banking operations in Formosa,
advice to
5/1
Ec°nomic situation:
During next six months, discussion at meeting with Federal
Advisory Council
5/15
Statement to be presented to President with statement for
6 19
/
inclusion in Midyear Economic Report
pd _ Revised statement approved and sent to President
6 1
/2
unds, Arthur E., Regulation X, application to plan for leasing
lot and sale of residence, advice to FRBank
of San Francisco
9/14
Edue .
ational activities of Board, items of interest sent to Library of Congress
10/2
ducational projects and activities of Board, reply to questionnaire from Mr. Quattlebaum
5/18
ender, Allen J., Regulation 14 reply to correspondence from
,
Mr. Lehleitner
1/26
-gency plans:
Board's building, shelter location and conversion of tunnel
in case of bombing
9/11
FRBank of Richmond, establishment of three additional TWX
machines requested, letter to Chesapeake
and Potomac Telephone Company of Virginia
5/3
Relocation of essential operations, arrangements for use of
FRBank of Richmond as center and procedure
to be followed approved
4/17
FRBank of Richmond to be used as relocation center, memo
of Mr. Carpenter approved
9/11
41er„
(IloY proclamation by President covering banking situation,
Federal bank supervisory agencies to make
study re, Mr. Powell to represent Board
12/7
41Plo
-Yment of members, officers and employees of Government
agencies, report on H. it. 9811 sent to
Congressman Celler
5/17
En
.cYclopaedia Britannica Films Inc., payment to cover changes in
film FRSystem approved
1/30
Esse
ntial production, meaning of expression in statement of
Federal Advisory Council
5/15
ans
, Henry C., appointment as alternate member for Mr. William
K. Barclay, Jr., on Voluntary Credit Restraint Committee
5/23




1320
2441

1597
942

1054
1372
1382

1938
2039
1125
204

1910

972

833
1906

2382

1099
224
1054

1172

124
Pages
Evergreen Park Shopping Plaza, Inc., Regulation X, question of
extension of credit, advice to FRBank of
Chicago

3/14

585

fliflatjons:

Bank of America, New York, N. Y., copies of report sent to
Chairman Gock, advice re recommendations
and comments requested
Assessment of charges approved
aeport of, acknowledgement of letter re and information
concerning future examinations
Messrs. Kirmss,'Calhoun, Chase, Mulligan, and Slack of
FRBank of New York appointed by Board to
participate in
Bankers Trust Company, New York:
London branch, examination procedure approved
Copies of report sent to bank
Central Hanover Bank & Trust Company, New York:
London branch, examination procedure approved
Copies of report sent to FRBank of New York for transmittal
Chase Bank, New York:
Paris branch, procedure for examination approved
Copies of report sent to bank
Defalcations, procedure to determine, discussion at Presidents Conference in connection with suggestion of conference to consider problem
European branches of Edge banks, agreement corporations
and State member banks, letters to Messrs.
Goodman and Guth authorizing
FDIC, insured nonmember banks, letter of FDIC re meetings
of bank directors to be held in connection with, discussion at meeting at FDIC
FRBank of Atlanta, copy of report left for information of
Chairman and directors, comments requested
Copy of report left for Chairman and directors,
comments requested
FaBank of Chicago, copy of report left for information of
Chairman and directors, comments requested
PRBank of Cleveland, report, Board to be advised re study
of use of nonmember clearing account,
practice of safekeeping securities not
owned by member banks to be discontinued
FRBank of Dallas copy of report left for information of
Chairman and directors, crowded condition
of vaults at San Antonio Branch and safekeeping practice noted, advice re requested




3/16

608

4/27

909

5/25

1185

11/26

2301

4/27
10/9

910
2081

4/27

910

10/18

2136

4/27
11/23

910
2299

10/4

2059

5/14

1041

11/27

2307

1/214

182

9/19

1965

6 7
/

1273

1/18

142

5/4

977

125
Pages
Examinations: (continued)
FRBank of Kansas City, copy of report left for Chairman
and directors, further information requested re safekeeping of securities for
local member banks, Auditing Department,
and strengthening of senior official
staff
9/19
FRBank of Minneapolis, copy of report left for information
of Chairman and directors, comments requeqted
6 27
/
FRBank of Philadelphia, copy of report left for information
of Chairman and directors, comments requested
21
/4
FRBank of Richmond, copy of report left for information of
Chairman and directors, comments requested 3/16
FRBanks, directive on scope and procedure in memo of
Mr. Wayne, discussion, to be considered
further
4/19
FRBank examination and supervision, memo of Mr. Wayne on
organization and functions approved
5/23
FRBanks, procedures, revised directive approved, to be discussed by Mr. Wayne at conferences of
Chairmen, Presidents, and Auditors of
FRBanks before effective
5/3
FRBanks, Mr. Sloan authorized to institute and conduct
for 1952
12/18
Foreign banking corporations, costs approved
4/27
Foreign branches of flEdge" banks, costs approved
4/27
Guaranty Trust Company, New York:
Brussels, London, and Paris branches, examination procedure approved
4/27
Copies of reports sent to bank
11/20
International Banking Corporation, New York
London and Paris branches, examination procedure
approved
4/27
Copies of reports sent to bank
11/28
Irving Trust Company, New York, inspection of reports by
Texas Banking Commissioner's representative
for confidential use approved
6 1
/4
Member banks, to be made annually
5/23
11(3rgan & Cie. Inc., New York:
Paris branch, procedure approved
4/27
Copies of report sent to FRBank of New York for
transmittal
10/24
Hew York Trust Company, New York, inspection of reports by
Texas Banking Commissioner's representative
for confidential use approved
6 114
/
northern Trust Company, Chicago, Illinois, deferment
approved
12/6
P°1icies and procedures, changes recommended in memo of
Mr. Wayne approved
5/23




1966

1438

340

608
855
1166

961

2445
909
909

910
2290

910
2314

1340
1166
910
2154

1340
2377

1166

126
Pages
Examinations: (continued)
State member banks, annual inspection of reports by Texas
Banking Commissioner's representative
for confidential use approved
6 11
/1
State member banks in New York District, schedule recommended re, not to be adopted without
further consideration of procedures,
advice to Mr. Sproul
11/28
Trust departments, revised form of report, supply to be
sent to FRBanks, instructions re
3/7
4
a1tiners, Board of Governors:
Barker, C. S., appointment as FRExaminer and salary increase approved
3/12
Expense voucher approved for period including nine
days of sick leave and per diem to be
paid during illness while away from
headquarters
7/24
Bartz, Charles H., FRExaminer, designation as representative
on committee for removal of certain dies,
rolls, and plates to Fort Knox, Ky.,
depository
3/29
Salary increased
5/8
To participate in assignment of committee of Bureau of
Engraving and Printing, advice to Mr. Hall 5/3
Bender, W. C., Jr., Asst. FRExaminer, salary increased
5/4
Brown, Willis G., FRExaminer, resignation
11/27
Chief FRExaminer, authorized to use same travel accommodations as assistant heads of divisions
3/16
To come to Washington periodically for consultation
with members of Board and staff
6 12
/
Clark, John F., appointment as FRExaminer and salary increase approved
3/12
Salary increased
9/10
Cooke, Robert W., Asst. FRExaminer, salary increased
3/9
Designation as FRExaminer and salary increase approved,
formerly Asst. FRExaminer
7/31
Corkhum, William R., Asst. FRExaminer, resignation
2 12
/
p°ns, F. A., FRExaminer, salary increased
5/4
Resignation
9/18
Jougal, W. D., FRExaminer, salary increased
3/30
Salary increased
9/18
Examination of Bank of America, N. Y., appointment
of
Messrs. Kirmss, Calhoun, Chase, Mulligan,
and Slack of FRBank of New York to
participate in
11/26
Field staff, to meet for conference in Washington at least
once each year, per diem to be paid in
lieu of subsistence for all on official
business
6/12




1340

2316
515

566

1616

706
998
971
976
2310
612
1314
566
1898
547
1660
322
976
1962
709
1961

2301

1314

127
Pages
EXaminers, Board of Governors: (continued)
Fisler, James V., Asst. FRExaminer, per diem in lieu of
subsistence while on sick leave approved
1/11
Salary increased
4/17
Salary increased
7/31
Francoeur, Adrien P., Asst. FRExaminer, salary increased
5/29
Goodman, Glenn M., FRExaminer, salary increased
3/1.4
Examinations of foreign branches to be conducted by
4/27
Authorization for travel to Europe and expenses
5/14
Advance of funds approved for trip to Europe
5/21
Guth, Frank C., Jr., salary increased
3/1
Examination of foreign branches, to assist in
4/27
Salary increased
5/4
Advance of funds for trip to Europe approved
5/14
Authorization for travel to Europe
5/14
Hall, Walter S., Asst. FRExaminer, salary increased
3/7
Resignation
6
/29
Hammons, Att W., Jr., Asst. FRExaminer, salary increased
5/8
Change in headquarters from Washington, D. C., to
Memphis, Tenn., approved
6
/27
Hart, John J., FRExaminer, transfer to Division of Bank
Operations as Technical Assistant with
no change in salary approved
2/7
Johnson, Malcolm F., Asst. FRExaminer, salary increased
3/7
Salary increased
5/4
Kiley, J. N., Jr., FRExaminer, salary increased
3/3o
Transfer to Division of Bank Operations as Technical
Assistant with no change in salary
approved
9/10
Kipfstuhl, E. F., Asst. FRExaminer, salary increased
/4
5
Lang, Arthur H., FRExaminer, salary increased
2/6
Chief Federal Reserve Examiner, appointment and
salary increase approved
2/6
Designation as Chief FRExaminer, aavice to FRBanks
2/20
Voucher for expenses approved
6
/21
Salary increased
12/20
Lassen, W. B., Asst. FRExaminer, salary increased
3/12
Salary increased
7/31
Leave, annual, arrangement for field staff approved
11/13
LYster, 2,1mer W., Asst. FRExaminer, headquarters changed
from Philadelphia, Pa., to ,dashington,D.C. 3 13
/
Lialary increased
3/7
Salary increased
5/4
ilanatt, Robert Neil, appointment as Asst. FRExaminer and
salary approved
3/15
asters, Hobert C., FRExaminer, salary increased
3/14
Appointment as Assistant Director of Division of Examinations and salary approved
12/20
MeGeary, J. Earle, appointment as Asst. FRExaminer and
salary approved, formerly FRExaminer
3/12




110
837
1660
1208

581
910
1041
1141
471
910
976
1041
1042
506
146o
998
1437
264

506
976
709
1899
976
260
260
405
1386
2471
565
1660
2225

572
506
976
596
581
2474
566

128
Pages
E4aminers, Board of Governors: (continued)
McNamara, M. W., Asst. FRExaminer, salary increased
3/30
Mernah, William Ray, Jr., appointment as Assistant FRExaminer and salary approved
12/21
Murff, Gordon R., Chief Field Examiner, transfer to
Secretary's Office as Assistant Secretary
and salary increase approved
2/6
Nelson, Fred A., FRExaminer, designation approved
12 1
/8
Noell, J. C., FRExaminer, salary increased to conform
with general pay increase
10/26
O'Malley, Edward K., Astt. FRExaminer, salary increased
3/1
Salary increased
3/30
Page, Grover C., Asst. FRExaminer, appointment on temporary
basis and salary approved
5/11
Fifteen days of annual leave credit approved for
6 1
/2
Paulson, Ralph A., appointment as Assistant FRExaminer on
temporary basis and salary approved
9/7
Pettijohn, Richard T., Asst. FRExaminer, appointment and
salary approved
61
/4
Porter, Mrs. Nancy R., appointment as Special Asst. FRExaminer and transfer to field staff for
one year with no change in salary approved 8 2
/
Rachford, Philip C., Asst. FRExaminer, leave of absence and
expenses approved for attendance at Graduate
School of Banking
Salary increased
5/4
Change in headquarters from Birmingham, Ala., to
Washington, D. C., approved
6/1
Voucher Approved for attendance at Graduate School of
Banking including per diem in lieu of subsistence for time from duty station to
New Brunswick, N. J., and return
7/16
Resignation
11/15
Rohnenburg, Theodore L., Asst. FRExaminer, Appointment
and salary approved
4/10
, Resignation
12/27
nussell, Robert R., Asst. FRExaminer, appointment and
salary Approved
4/10
Schaeffer, L. M., Asst. FRExaminer, salary increased
5/4
Appointment as FRExaminer, formerly Asst. FRExaminer,
and salary increase approved
12 1
/9
Scott, Frances, appointment as Special Asst. FRExaminer,
and transfer to field staff for six
months with no change in salary approved
8/2
. Special Asst. FRExaminer, salary increased
8 1
/3
,Mith, C. A., Asst. FRExaminer, salary increased
S
,
3/30
2mith, James C., FRExaminer, salary increased
5/17
J. Calvin, Asst. FRExaminer, resignation
12
/27
8Pecial Asst. FRExaminers, special travel allowance of
4li4o in addition to per diem and Pullman
accommodations approved during time of
service with field staff
8/2




709
2482

260
2443
2166
471
709
984
1386
1883
1339

1669

268
976
1227

1550
2260
771
2500
722
976
2452

1671
1849
709
1103
2500

1671

129
Pages
Examiners, Board of Governors: (continued)
Stone, Harold F., Asst. FRExaminer, appointment on temporary
basis and salary approved
7/11
Sturges, Charles P., Asst. FRExaminer, appointment on temporary basis and salary approved
2/5
Travel expenses for field staff, advance in amount not
exceeding 28 days per diem approved
6 1
/5
Advance not exceeding 28 days per diem authorized for
field staff upon application
6 29
/
Graduate School of Banking, vouchers to include per
diem in'lieu of subsistence for time from
duty station to New Brunswick, N. J., and
return
7/16
Wendt, K. P., Asst. FRExaminer, salary increased
7/31
dilkes, M. A., FRExaminer, retirement on account of disability
4/19
4wa1ners, FRBank of Atlanta:
Adams, J. Lloyd, appointment as assistant examiner
7/10
Appointment as examiner approved, formerly assistant
examiner
10/12
Adams, H. DeWitt, designation as special examiner approved
7/13
Allenbach, Victor A., designation as special assistant
examiner
11/7
Cobb, Joe Edward, designation as special assistant examiner 1/10
Gibson, Ralph S., appointment as assistant examiner
7/6
angford, Junious Bedford, appointment as assistant examiner
approved
1/8
Martinez, Bernard, designation as special assistant examiner 1/12
Mitchell, Harold J., appointment as assistant examiner
approved
12/29
Mobley, T. H., designation as special examiner approved
3/19
Sanders, Richard Avery, appointment as examiner
7/6
Vallette, Edgar M., designation as
special assistant
examiner
1/12
Walter, Theodore, designation as special assistant examiner 1/12
z_ ':Iilson, Travis, designation as special assistant examiner
11
/0
,artily
,
FRBank of Boston:
hhern, Joseph M., designation as special assistant examiner 3/6
Ahern,
Aquilino, Daniel, appointment as assistant examiner
9/4
'llbrey, Lee J., appointment as assistant examiner
i
9/4
'
atho, Carleton J., designation as special assistant
examiner
12 14
/
elyea, William F., designation as special assistant
examiner
3/6
Ca,obln .anco, Alexander C.,
designation as special assistant
examiner
3/6
Chalmers, James H., designation as special assistant
examiner
3/6
Colgate, Arthur E., designation as special assistant
examiner
3/6
C°nnell, Marion E., designation as special assistant
examiner
3/6




1525
246
1353
1462

1550
1660
858
1519
2094
1548
2213
90
1505
70
112
2516
614
1505
112
112
90
499
1860
1860
2424
499
499
)499
499
499

130
Pages
Eacaminers, FRBank of Boston: (continued)
Corkhum, William R., designation as special assistant
examiner
Coveney, James D., designation as special assistant
examiner
Daley, H. Lloyd, designation as special assistant examiner
Farrell, Walter Orrin, designation as special assistant
examiner
Appointment as assistant examiner approved
Finn, Irene M., designation as special assistant examiner
Flanders, William F., designation as special assistant
examiner
Appointment as assistant examiner
Graw, George K., designation as special assistant examiner
Hatch, F. Meldon, designation as special assistant examiner
Hayes, John A., designation as special assistant examiner
Holway, Edward F., designation as special assistant
examiner
Kelley, Bernard F., designation as special assistant
examiner
Kennedy, Alice T., designation as special assistant
examiner
Kenney, Eugene W., designation as special assistant
examiner
Laverty, Harold, designation as special assistant examiner
Loughran, Francis J., designation as special assistant
examiner
MacDonald, William 1., designation as special assistant
examiner
Morss, Theo G., designation as special assistant examiner
Murphy, Francis J., designation as special assistant
examiner
1
,!aPoli, Charles F. appointment as assistant examiner
)
"Ye, Loring C., designation as special assistant examiner
O'Brien, Thomas L., designation as special assistant examiner
Pingree, C. Lewis, designation as special assistant
examiner
Quirk,
Edward J., designation as special assistant examiner
William M., designation as special assistant
examin
lin
Rich, William C., designation as special assistant examiner
Sanagian, Fred D. designation as special assistant
,
examiner
Sk
innion, John D. designation as special assistant
examiner
Slack, George C., designation a special assistant
examiner
mith, Albert T., designation as special assistant
examiner




4/20

864

3/6
4/20

499
8.64

10/23
11/7
3/6

2147
2213
499

4/20
9/4
3/6
4/20
4/20

864
1860
499
864
864

3/6

499

4/20

864

3/6

499

3/6
3/6

499
499

3/6

499

12/28
3/6

2510
499

4/20
12/3
1/2

864.
2331
11

3/6

499

4/20

864

3/6

499

3/6
3/6

499
499

3/6

499

12/28

2510

3/6

499

3/6

499

131
Pages
Exarainers, ii -Bank of Boston: (continued)
3/6
Stetson, Arthur, designation as special assistant examiner
designation as special assistant
Strachan, Frederick T.,
3/6
examiner
assistant
Sullivan, John F., designation as special
3/6
examiner
assistant
Sullivan, Robert L., designation as special
examiner
4/20
Temple, Donald M., designation as special assistant
examiner
12 1
/4
TO1111aril Merton H., designation as special assistant
12/28
examiner
Treimann, John A., designation as special assistant
3/6
examiner
Wall, Richard T., designation as special assistant
examiner
4/20
Watts, G. Gordon, designation as special assistant
3/6
examiner
Wostrel, Herbert J., designation as special assistant
examiner
4/20
EX
aminers, FRBank of Chicago:
Bauer, Donald L., appointment as assistant examiner
6
/28
Carey, Paul F., designation as special assistant examiner
11/14
Fults, Elbert 0., appointment as examiner aporoved, to
dispose of stock in Genesee County
7/31
Savings Bank, Flint, Mich.
G°hr, Lester, designation as special assistant examiner
12/21
6
/28
Hanrahan, Edward V., appointment as assistant examiner
Jensen, Olaf, appointment as assistant examiner
9/24
Scott, Thomas William, designation as special assistant
examiner
4/4
Appointment as assistant examiner
9/24
SPaeth, Carl F., Jr., appointment as examiner approved,
formerly assistant examiner
6 19
/
SwaneY, Russel A., designation as special assistant examiner
approved
/7
5
Name deleted from list of special assistant examiners
12/21
lianZante, C. P., Chief Examiner, salary approved
4/10
Weber, Robert J., appointment as examiner, formerly as6 28
sistant examiner
/
m"ers, FRBank of Cleveland:
00anas, Arthur T., designation as special assistant
examiner
1/4
°Yd, H. M., Chief Examiner, salary approved
8
1
/23
Salary approved
4/17
t Salary approved
9/4
,
urton, Don Lee, appointment as assistant examiner
9/4
'
1
;assell, Paul H., designation as special assistant examiner 1/4
veadY, Daniel J., designation as special assistant examiner 1/4
ans, Howard 0., designation as special assistant examiner 1/4
Robert H., designation as special assistant examiner
1/4

r




499
499
499
864
2424
2510

499

864
499

864
1458

2246
1660
2484
1458
1987
724
1987
1375
985
2484
764
1459
32
172
832
1857
1860
32

32
32

32

Examiners, FRBank of Cleveland: (continued)
MacDonald, Walter H., appointment as assistant examiner
approved
Ormiston, Thomas E., designation as special assistant
examiner
Parrett, David S., appointment as assistant examiner
approved
Flagman, Alvin Chester, appointment as examiner approved,
formerly assistant examiner
4
arniners, FRBank of Dallas:
McCormick, Hoyt, designation as special assistant examiner
McGee, C. F., designation as special assistant examiner
Pondrom, L. G., appointment as Examiner and designation as
officer in charge of bank examination
function approved
Schoenhoff, Robert John, appointment as assistant examiner
Scott, Curtis Leroy, designation as special assistant examiner
Steele, John Albert, Jr., designation as special assistant
examiner
Tharp, Maurice Allen, Jr., appointment as assistant examiner
4 14°0d, Jack Gilbert, appointment as assistant examiner
al4l ners, FRBank of Kansas City:
Adams, Warren, designation as special assistant examiner
Beumer, Ann, designation as special assistant examiner
81air, Marie, designation as special assistant examiner
Blakeman, Marvin,
designation as special assistant examiner
Brooke, Kenneth L., designation as special assistant
examiner
Appointment as assistantexaminer approved
Buckles, Wanda, designation as special assistant examiner
8
13ush, Mary, designation as special assistant examiner
,
utler, Lucille, designation as special assistant examiner
'-ockrell, Paul E., designation as special assistant examiner
ompton,
Russell L., designation as special assistant
examiner
Corl„
n uY, Harry G., designation as special assistant examiner
P, Beverly, designation as special assistant examinerDale, designation as special assistant examiners
pulck, Lavina, designation as special assistant examiner
G r411eY, Wm. R., designation as special assistant examiner
;
,
'
- fneY, Ada R. (typist), designation as special assistant
examiner
"A, Sophie, designation as special assistant examiner
Got,.
Gr
Felix, designation as special assistant examiner
'sbY, Pattie, designation as special assistant examiner
alnes, Mary Helen (typist), designation as special
assistant examiner
Ril1
, Rodney Ray, designation as special assistant
examiner
Appointment as assistant examiner approved,
formerly
special assistant examiner



132
Pages

5/15
1/4

1085
32

8/27

1822

12/29

2516

9/4
9/4

1860
1860

9/28
11/21

2026
2294

7/25

1619

11/27

2311

8 1
/
3/30

1665
710

1 19
/
2/7
2/7
1/19

151
265
265
151

2/7
2/7
2/7
2/7

265
1380
265
265
265

1/19

151

1 19
/
2/7
2/7
1/19
2/7
1/19

151
265
265
151
265
151

1 19
/
2/7
1/19
2/7

151
265
151
265

1/19
1 1
/6

151
132

12 17
/

2432

6
/20

133
Pages
liners, FRBank of Kansas City: (continued)
Humphreys, Harold Winfred, Jr., designation as special
assistant examiner while trainee for
position as assistant examiner
Leavitt, Brenton C., appointment as examiner approved,
formerly assistant examiner
Marqua, Frank, designation as special assistant examiner
Masur, Agnes, designation as special assistant examiner
Meeker, Louis H., designation as special assistant examiner
Miller, Ernestine, designation as special assistant
examiner
,
Mills, L. F., Chief Examiner, salary approved
Salary approved
Neudorff, Mildred, designation as special assistant examiner
Pope, Joseph it., designation as special assistant examiner
Roche, John 0., designation as special assistant examiner
Satterfield, Isabel, designation as special assistant
examiner
Screechfield, E. L., appointment as examiner approved,
formerly assistant examiner
Spurlock, John B., designation as special assistant
examiner
Wenski, Elizabeth, designation as special assistant
examiner
Young, Dean Robert, appointment as assistant examiner,
formerly special assistant examiner
4
aminers, FRBank of Minneapolis:
Anderson, Morris G., appointment as examiner, formerly
assistant examiner
Briere, Robert G., appointment as examiner, formerly
assistant examiner, not to participate
in examination of Princeton State Bank,
Princeton, Minn., as indebted to
Droitzler, Ralph J., appointment as examiner, formerly
assistant examiner, not to participate in
examination of First Robbinsdale State
Bank, Robbinsdale, Minn., as indebted to
Groszkruger, Carleton Paul, appointment as assistant
examiner approved
Lee, Arthur I., designation as special assistant examiner
approved, formerly assistant examiner
Lemm, Hobert J., designation as special assistant examiner
FRBank of New York:
0dnaruk, John, appointment as assistant examiner
T'eighner, Daniel J., appointment as assistant examiner
'
rown, Thomas B., Jr., designation as special assistant
examiner
Oalhoun, John C., designation as special assistant examiner
, Appointment by Board to examine Bank of America, N. Y.
Liallahan, Patrick F., appointment as assistant examiner




11/14

2246

7/6
1/19
2/7
1/19

1506
151
265
151

2/7
1/3
6/12

265
20
1310

2/7
1/19
1/19

265
151
151

2/7

265

7/6

1505

1/19

151

2/7

265

12/17

2432

11/28

2313

11/28

2313

11/28

2313

3/12

566

7/23
6/7

1604
1273

10/23
2/2

2147
237

9/24
11/14
11/26
8 13
/

1987
2246
2301
1732

134
Pages
Examiners, FRBank of New York: (continued)
Chase, Albert C., designation as special assistant
examiner
11/14
Appointment by Board to examine Bank of America, N. Y. 11/26
Dickinson, Philip L., designation as FRExaminer to examine
foreign branches
4/27
Eaton, Charles, appointment as examiner approved, formerly
assistant examiner
8 13
/
Emond, Eugene P., appointment as assistant examiner
5/31
Frank, Stephen K., designation as special assistant
,
examiner
8 13
/
Giaohetti, Anthony, appointment as examiner, formerly
assistant examiner
2/2
Hamel, Alfred E., designation as special assistant
examiner
2/27
Hines, Allan C., designation as special assistant examiner
2/2
Hoch, John J., designation as special assistant examiner
7
/3
Kayser, Frank X., designation as special assistant examiner
3/2
Kirmss, Alfred, appointment as examiner, formerly assistant
examiner
2/2
Appointment by Board as examiner to participate in
examination of Bank of America, N. Y.
11/26
Kraft, Frederick J., appointment as assistant examiner
2/27
Kruer, John C., designation as special assistant examiner
2/27
Appointment as assistant examiner
11/28
Mack, Paul L., appointment as assistant examiner
5/31
Malone, Edward H., appointment as assistant examiner
2/2
Menge, Charles J., appointment as assistant examiner
2/2
Messer, J. Edward, appointment as assistant examiner
8
/22
Meyer, Harry J., designation as FRExaminer to examine
foreign branches
4/27
Mittricker, Franklin F., appointment as examiner
approved,
formerly assistant examiner
8 13
/
Montgomery, Hugh, designation as special assistant
examiner 2/27
Mulligan, Michael M., designation as special assistant
examiner
4/5
Mulligan, William R., designation as special assistant
examiner
11/14
Appointment by Board to examine Bank of America, N. Y. 11/26
0bermayer, Chlrles J., appointment as assistant examiner
2/2
Rahe, hichard W., designation as special assistant
examiner
8 13
/
Rodda, George B., designation as special assistant examiner 2/27
, Appointment as assistant examiner
8 13
/
at', Harold L., appointment as assistant examiner
8 13
/
s
.guin, John T., appointment as assistant examiner
7/3
' Beekman C., appointment by Board to examine Bank of
acky
America, N. Y.
11/26
Stoecker,
Walter A., designation as special assistant
examiner
12 18
/
zor111 Paul C., appointment as assistant examiner
2/2

r




2246
2301
910
1732
1220
1732
237

458
237
1488
237
237
2301
458
458
2312
1220
237
237
1795
910
1732
458

737
2246
2301
237
1732
458
1732
1732

1488
2301

24)14
237

135
Pages
4
aininers, FRBank of
Benz, Walter C.,
Bucci, Mario A.,
Case, Joseph M.,

Philadelphia:
designation as special assistant examiner 11/30
9/10
designation as special assistant examiner
appointment as examiner, formerly assistant
6/22
examiner
Delphey, P. H., Jr., designation as special assistant
9/10
examiner
9/10
Denish, Herbert, designation as special assistant examiner
designation as special assistant
Grigalunas, Stanley J.,
11/30
examiner
Keane, Edward H., designation as special assistant
11/3o
examiner
Kenny, Thomas A., designation as special assistant
9/10
examiner
Kim, Paul E., Jr., designation as special assistant ex9/10
aminer
Lowery, John J., designation as special assistant examiner 11/30
Margolf, Harry K., designation as special assistant ex11/30
aminer
McCann, Leonard, designation as special assistant examiner 11/30
McCarthy, Robert E., designation as special assistant
9/10
examiner
McGirney, Francis, designation as special assistant ex11/30
aminer
McKeever, John L., designation as special assistant examiner
9/10
Metz, George William, appointment as assistant examiner
7/24
Moran, John D., designation as special assistant examiner
9/10
Muntz, John A., designation as special assistant examiner
11/30
Murray, John W., designation as special assistant examiner 11,/30
Ondeck, Stephen M., appointment as assistant examiner
approved
/
3 15
Rickert, Henry A., Jr., designation as special assistant
examiner
11/3o
Sulzberger, Charles H., Jr., designation as special asexaminer
9/10
E.
"Q-ners, FRBank of Richmond:
Bohannon, John F., designation as special assistant
examiner
4/18
Carr, Frederick Lamont, designation as special assistant
81
/6
examiner
Cummings, Bernard L., designation as special assistant
examiner
4/18
Doh I.,
0,10, Murray T., designation as special assistant examiner
9/27
21411 Harry E., designation as special assistant examiner
1, ,
1
4/18
'1sworth, Jesse H., appointment as examiner approved
44
.
formerly assistant examiner
8/10
Welford S., designation as special assistant
examiner
4/18
Fishburne, Stuart P., designation as special assistant
1/2
examiner




2328
1899
1)400
1899
1899
2328
2328
1899
1899
2328
2328
2328
1899
2328
1899
1617
1899
2328
2328
597
2328
1899
849
1764
849
2017

849
1726
849
11

136
Pages
EXaminers, FRBank of Richmond: (continued)
Gardenhour, Edgar F., appointment as examiner approved,
bank stock to be disposed of and indebtedness to Virginia Trust Company
to be liquidated
3/13
Stock in Nicodemus National Bank, Hagerstown, Md.,
requirement for disposal waived to
prevent undue hardship
5/16
Harrison, William B., III, designation as special assistant
examiner
4/18
HYlton, Thomas P., designation as special assistant examiner
4/18
Lambert, William F., appointment as assistant examiner
2/16
Porter, Chester D., Jr., designation as special assistant
examiner
4/18
Richardson, Staughan S., designation as special assistant
examiner
4/18
Snead, G. Harold, Chief Examiner, salary approved
5/15
Withers, John J., designation as special assistant examiner 4/18
, 'ancey, John F., designation
p
as special assistant examiner
4/18
'
s amlners, FRBank of St. Louis:
Berthold, Harold J., designation as special assistant
examiner
12/11
Boll, Paul W., designation as special assistant examiner
12/11
Boro, Daniel R., designation as special assistant examiner 12/11
navisson, Walter F., designation as special assistant examiner
/1
12 1
Dubrecht, August E., designation as special assistant examiner
12/11
Hackman, Vernon J., designation as special assistant
examiner
12/11
Haupt, Joseph P., designation as special assistant examiner
12/11
Hornick, John, designation as special assistant examiner
12/11
,
J
panz, Alfred A., designation as special assistant examiner 12 1
/1
"
aleY, Richard 0., designation as special assistant examiner
12 1
/1
La Mar, Robert C., designation as special assistant examiner
12 1
/1
M
ccormick, James 0., designation as special assistant
examiner
12/11
MeNorton, Lee W., designation as special assistant examiner
12/11
Mueller, William R., designation as special assistant
examiner
12/11
Ilulholland, Edward F., designation as special assistant
examiner
12/11
ewman, Ernest K., designation as special assistant
examiner
12/11
4
liges, Richard H., designation as special assistant
examiner
12 11
/




572

1091
849
849
357
849
849
1086
849
849

2395
2395
2395
2395
2395
2395
2395
2395

2395
2395
2395
2395
2395
2395
2395
2395
2395

137
Pages
Examiners, FRBank of St. Louis: (continued)
Opich, Carl, designation as special assistant examiner
12/11
Orr, Alexander P., designation as special assistant examiner
12/11
Sassman, William H., designation as special assistant
examiner
12/11
Schott, Edward H., designation as special assistant
examiner
12 11
/
Stecher, Eugene A., designation as special assistant examiner
12 11
/
Strunk, Virgil L., designation as special assistant
12/11
Stumpf, Ardwyne W., designation as special assistant
examiner
12/11
Walker, Laurie T., designation as special assistant examiner
12 11
/
Witte, Elmer H. designation as special assistant examiner 12/11
'
1.&arminer3 FRBank of San Francisco:
,
Aamodt, John N., appointment as examiner approved, formerly
assistant examiner
5/8
Claxton, F. R., designation as special assistant examiner
2/2o
Clerk, Franklyn, appointment as examiner approved, not to
participate in examinations of Bank of
America NT&SA or affiliates until indebtedness liquidated
lo/3
Coulam, M. J., designation as special assistant examiner
10/25
Deltrick, Sumner, appointment as examiner approved
5/23
Dunn, R. C., designation as special assistant examiner
lo/25
Harder, Leslie, appointment as examiner approved, formerly
assistant examiner
5/8
Herring, F. M., designation as special assistant examiner
9/5
Johnsen, Robert C., designation as special assistant examiner
9/4
Konzen, W. M., designation as special assistant examiner
9/5
Morrice, James T., appointment as assistant examiner
approved
3/21
,c we, R. F., designation as special assistant examiner
)
9/5
oadler, E. J., designation as special assistant examiner
9/5
r earles, H. R., designation as special assistant examiner
9/5
°haw, Goad C., designation as special assistant examiner
approved
11/19
Swan, Eliot J., designation as special assistant examiner
3/23
FRBanks:
Conference in Washington, letter to FRBanks as to representatives, etc.
1/5
TI
'ust Examiners' Conference, to be held at FRBank of New
Exa41
York, February 1-3, advice to FRBanks
1 12
/
,
flers, FRBranch banks:
.0a
lt1more:
MacSherry, John H., designation as special assistant
examiner
5/1
Birmingham:
Hamilton, C. N., designation as special assistant
examiner
4/18



2395

2395
2395
2395
2395
2395
2395

2395
2395
999
407

2043
2157
1172
2157
998
1865
186o
1865
635
1865
1865
1865
2271
655

64
114

949
849

138
Pages
ai1
4 L1ners, FRBranch banks: (continued)
Cincinnati:
Bobinger, William L., designation as special assistant
examiner
Brehm, Robert J., designation as special assistant
examiner
Comarata, Vincent J., designation as special assistant
examiner
Wald, Jack, designation as special assistant examiner
Walters, Albert L., designation as special assistant
examiner
Detroit:
Hackett, Patrick E., designation as special assistant
examiner
El Paso:
Garrison, George A., designation as special assistant
examiner
Los Angeles:
Blackburn, C. L., designation as special assistant
examiner
Cromer, R. C., designation as special assistant examiner
McConnell, J. H., designation as special assistant examiner
Moss, W. H., designation as special assistant examiner
,
Newton, R. E. designation as special assistant examiner
Niemi, G. L., designation as special assistant examiner
Truelson, P. N., designation as special assistant
examiner
Nashville:
Webster, T. L., designation as special assistant
examiner
P
ittsburgh:
Cedel, Emil E., designation as special assistant
examiner
Seattle:
Berg, A. J., designation as special assistant examiner
Grimm, F. K., designation as special assistant examiner
Jorgensen, A. K., designation as special assistant examiner
White, J. V., designation as special assistant examiner
"
- -Lners, hearing: Teegarden, Harold B., SEC, requested to
direct hearing on RegulationW violations
Ex
4rainers, National bank:
'
.°1ger, W. P., Chief, Regulations W and X, enforcement
program, information to be furnished to
Ex,
.
FRBanks, letter requesting sent to
lla.laers NLRB, request for services on reimbursable expense
basis to conduct hearing on Master Tire
and Supply Company, Lawrence, Mass.




1/4

32

1/4

32

1/4
1/4

32
32

1/4

32

3/6

499

3
/15

598

8/8
8/8

1707
1707

8/8
8/8

1707
1707

8/8

1707

8/8

1707

8/8

1707

4/18

849

1/4

32

7/11
7/11

1526
1526

7/11
7/11

1526
1526

5/17

1106

4/5

74o

9/11

1920

139
Pages
4
ar1iners, NLRB: (continued)
Fitzpatrick, James J., hearing examiner, services requested
9/28
for Regulation -vi violation case
Examiners, Regulation W hearings, increase in budget of Board
Members Section for salaries and traveling
10/25
expenses for examiners borrowed for
EXecutive Orders:
Loans authorized by section 302 of Defense Production Act
of 1950, report to Bureau of the Budget on
6/20
proposed order
Order delegating certain functions of the President under
Defense Production Act of 1950, small
business part in defense production, report
to Bureau of the Budget
6/6
Order providing for performance of certain defense housing
and community facilities and services functions, amendment suggested in report to
Bureau of the Budget
9/10
Personnel procedures, to be followed by Board, advice to
1/15
Mr. Peyton
Statistical information, draft providing for improvement of
work of Federal Executive Agencies re, no
comments to be made to Bureau of the
Budget
1/24
No. 10161, personnel employed under, advice to Federal
Register
1/12
Nos. 10193 and 10200, Defense Mobilization and Production,
statements to be published in FRBulletin
1/16
No, 10223, designation of Atomic Energy Commission as
guaranteeing agency
3/15
No. 10281, advice to FRBanks re establishment of Defense
Materials Procurement Agency and designation as guaranteeing agency under Defense
Production Act
8/31
No, 10281, defense materials procurement and supply, statement to be published in FRBulletin
9/6
No. 10290, regulations for handling of official information
requiring safeguarding
10/26
No. 10296, residential credit restrictions in critical defense housing areas, statement to be
published in FRBulletin
11/6
'XecUti-ve training and development programs, reference to discussion at Presidents' Conference and
further discussion of programs at Board
and FRBanks
10/15
txpenses:
Board of Governors:
Binders, purchase of 375 special type for use in connection with Loose-Leaf Service approved
Chairmen's Conference, payment of costs of dinner and
luncheons, etc., approved




2028

2155

1380

1263

1901
119

183
112
136

602

1851
1880
2171

2211

2107

/4
31

586

11/28

2321

140
Pages
Expenses: (continued)
Board of Governors: (continued)
Conference of Chairmen to be held in Washington, costs
3/29
approved
Conference of Personnel Officers of FRSystem, meeting to
be held at Board, expenditure for entertain1/24
ment approved
Encyclopaedia Britannica Films Inc., payment to cover
changes in film Federal Reserve System
1/30
approved
Knight, Joan, of Bank of England, expenses involved in
10/16
entertainment by'Miss Ayers approved
Luncheons for State bankers associations, cost to be
1/9
paid by Board
Physical examinations of prospective FRBank employees,
to be paid by Board when made by Board's
10/12
doctor
Puerto Rican mission, reimbursement to members of study
11/20
group to cover certain items approved
Regulation W case in Beloit, Wis., payment for expenses
of U. S. Marshal in serving judgment
approved
2
/21
Regulation W cases, Solicitor's Office authorized to
approve payment of future bills for in2/21
vestigations and court proceedings
Rental of space at RBank of Richmond for alternate
facilities, costs to be submitted to Board 4/17
Reserve Board Club picnic, contribution of 125 approved
6/1
for
Reserve Board Club, donation to be increased to, and use
10/25
of telephone to be charged to Board
Savings bond sales campaigns, question of payment, Chairman Martin to discuss matter further with
4/24
Mr. Clark and Secretary Snyder
Savings bond program:
Dinners and luncheons, no blanket commitment to be
made, but Board to assist on certain
5/31
occasions, Mr. McDonald to be advised
Expenses for luncheons and dinners to be paid,
7/19
Mr. McDonald to be advised
Survey of house purchasers, National Analysts, Inc.,
requested to do additional work, reimbursement to be made for extra work for first
5/16
survey and for additional survey
United States Chamber of Commerce, cost of luncheon
during meeting in Washington approved
11/28
Board or FRBanks, question of being subject to budgetary
or audit control of any agency of Congress
or Executive Branch of Government, comments
of FRBanks requested for Pathan Subcommittee
questionnaire
9/12




694

179

224
2123
79

2098
2291

428

428
835
1232
2156

884

1218
1586

1098
2321

1925

141
Pages
Expenses: (continued)
2/20
Defense and non-defense, statement of FAC re
FRBank of New York:
Puerto Rican mission, assumption of certain expenses
11/26
of Mr. Crosse by, approved
FRBanks:
Postal money orders, issuance, reimbursement for cost
of work, adjustment in rate to be made
after first year, advice to Postmaster
6/27
General
FRSystem:
Patman Subcommittee questionnaire, information requested
from FRBanks for
9/12
Government, meeting of representatives of Council of Economic
Advisers, Bureau of the Budget, and Treasury
attended by Mr. Young
12/4
O'Keefe, Gregory, payment to FRBank of New York for services
and expenses during November 1950 approved 1/22
Patman subcommittee questionnaire, further information re
questions on, advice to FRBanks
10/23
Phelan, Arthur, payment to FRBank of New York for services
and expenses during November 1950 approved 1/22
Voluntary credit restraint program, no objection to absorption ol
iwig
tl dental items by FRBanks
4/17
P--Import Bank of
S. 2006, to increase lending authority, favorable report
sent to Bureau of the Budget
9/28

383

2302

1441

1925

2340
156
2150
156
829

2028

uFil
-Mployment Practices:
Amendment to procedures
4/24
Procedures of Board, revised statement approved, copy to be
sent to Fair Employment Board of Civil
Service Commission
9/18
?,111
Adrien J., Regulation X, protests re short-term construction credits for multi-unit residence or
nonresidential structure
8/23
Credit Administration, credit needs of small business, competition from production credit associations
complaints of bankers suggestion that mat)
ter be discussed with Governor Duggan of
4/12
rbillers Home Administration, loans made by, discussion at Presidents Conference
10/4
' Advisory Council:
ral
Bank loans, volume during first half of 1951, increase
believed by
2/20
Bank loans, changes in volume of, discussion at meeting
with Board of expected increase in rest of
year
9/18




889
1962
1815

792
2061

399
1952

Federal Advisory Council: (continued)
Bills S. 514 and S. 515, Reconstruction Finance Corporation, single Administrator and curtailment of activities favored
2(20
Business and economic situation during next six months and
credit control policies, views on reserve
requirements, rediscount rates, open market
operations, etc., discussed
5/15
Business and economic conditions and System credit policy,
discussion of prospective loans, FOMC
policy, and Voluntary Credit Restraint
11/20
program
Credit policy and Treasury debt management, position opposed to views of Board, letter to
Chairmen to be prepared
2
/27
Debt, public, discussion of support of Government securities
market, defense bonds, and Treasury financing in general
11/20
Executive Committee:
Congdon, Sidney B., reelection as member
2/20
Jackson, N. Baxter, reelection as member
2/20
Potts, Frederic A., reelection as member
g/20
Executive training and development programs, discussion of
Mr. Norton with Mr. Fleming re problem of
commercial banks
10/15
Fiscal and monetary actions to combat inflation and to meet
requirements for defense, statement of
Council and discussion of
2 0
/2
Identification cards, issuance to members and Secretary
approved
9/27
Limitation of authority over consumer and real estate credit,
removal at appropriate time favored by
9/18
Meetings:
February 18-20, additional topics for agenda sent to
Mr. Prochnow
21
/
With Board
2/20
May 13-15, 1951, next to be held on
2/20
With Board
5/15
September 16-18, 1951, next to be held on
5/15
September 16-18, agenda sent to Mr. Prochnow
9/5
With Board
9/18
November 18-20, next to be held on
9/18
With Board
11/20
February 17-19, 1952, next to be held on
11/20
November 18-20, agenda for, advice to Mr. Prochnow
11/8
Members:
Brown, Edward E., President, reelection
2/20
Election and terms of office, resolution of Independent
Bankers Association on, comments of FRBanks
to be requested
5/31
Fleming, Robert V., Vice President, reelection
2/20




142
Pages

382

1054

2273

456
2284
381
381
381

2107

382
4
202
1952

235
381

404
1053
1070

1868
1946
1960
2273
2289
2217
381

1215
381

143
Pages
federal Advisory Council: (continued)
Members: (continued)
Resolution of Independent Bankers Association recommending amendment to FRAct re election
and rotation, comments of Directors of
FRBanks requested
6 1
/1
Memorandum of topics to be discussed at joint meeting:
Discussion of
2/19
Discussion of
5/14
Discussion of, views to be presented in minutes of
joint meeting
9/17
Memorandum of topics submitted to Board before joint meeting,
question of change in procedure to be considered by
9/18
Nonessential construction and other activities, need for
curtailing until needed for help to provide
employment, discussion
5/15
Patman Subcommittee Questionnaires, copies of questionnaires
and answers to be sent to Council when in
final form
9/18
Discussion of answers to, drafts to be sent to members
for comments
11 2
/0
Prospective business and economic conditions and System
credit policies, discussion of means for
providing additional reserves through
lower reserve reouirements or open market
operations
9/18
Regulationsifand X, effects and views re tightening of
terms discussed, no changes to recommend
at present
22
/0
Reguiations W and X, changes in terms not favored at present
by
5/15
Reserve requirements, oroposed loan expansion reserve plan
not approved, discussion of additional authority over, comments of members requested
by Board
5/15
Staff
:
Prochnow, Herbert, reelected Secretary
StudY of prospective demands for and supply of credit over
next six to twelve months, recommendation
that FRBoard undertake, memo of Mr. Young
re and discussion
T°Pics for Discussion:
Bank loans, changes in volume durtng rest of year .
Business and economic situation during next six months
and policies on general credit controls

Consumer and real estate credit, limitations on Board
authority, recommendations re removal




1280
371
1040
1942

1960

1069

1946
2280

1947

399
1060

1065

2/20

381

5/15

1067

9/5

1869

5/3
9/5
11/8

970
1869
2218

9/5

1869

144
Pages
Federal Advisory Council: (continued)
Topics for Discussion: (continued)
11/8
Credit controls, System policies re
11/14
Debt, public, effect on FRSystem
Fiscal and monetary actions to combat inflation and
2/1
to meet requirements for defense
5/3
List of items sent to Mr. Prochnow
Loans by banks, change in volume during first half
2/1
of 1951
11/8
Patman subcommittee questionnaire
Regulation W and X, effects and question of tightening
2/1
of terms
Changes in terms
5
/3
Reserves, legislation re authority, alternative plans,
views on loan expansion reserve plan
requested
/3
5
V-loan program, steps to make operation more effective
2/1
for small defense contractor
V-loan program
9/5
V-loan applications, delays in processing, question of
discussion with representative of Depart11/8
ment of Defense
2/1
Voluntary agreements, comments requested
Voluntary credit restraint program
5
/3
Voluntary credit restraint program
9/5
V-loan Program:
Amendment to Assignment of Claims Act favored to make
2/20
operation more effective
5/15
Applications for loans under, memo from Mr. Vardaman
Delays in processing applications discussion of means
9/18
for avoiding
Voluntary agreements, program, support favored by
2 0
/2
Voluntary Credit Restraint Program:
5/15
Progress of, discussion at meeting with Board
Approved by, discussion of application to Government
9/18
lending agencies
Ped.
' Bureau of Investigation:
ral
Regulation X, violations by Dennstedt Company, San Diego,
investigation to be continued by
9/10
Pede
ral Civil Defense Administration:
FR.Banks to cooperate in civil defense program, advice to
•

Ped._

FaBanks

1/2

''al Credit Unions:
R -A gulation W, application of section 7(k) to, advice to
5/28
?Oder
Mr. Blomgren
A a1 Deposit Insurance Corporation:
411dit of certified statements, program to be extended to
banks in Boston, Richmond and San Francisco
Districts, inclusion of verification of
reports in regular examination procedure
desired
6 11
/




2218

2251
235
969
235
2218
235
970
970
235
1869
2218
235
970
1869
401
1064
1959
403
1060
1954
1902
16
1199

1276

Fed
eral Deposit Insurance Corporation: (continued)
Audit of certified statements submitted for assessment,
purposes, program to be extended to
Sixth, Eighth, Ninth, Tenth and
Eleventh FRDistricts
Bank of Babylon, New York, application for continuance
of insurance after withdrawal from membership in FRSystem, advice to
Bank of New Hyde Park, New York, application for continuance
of insurance after withdrawal from membership in FRSystem, advice re
Bank whose deposits are no longer insured by, is still
eligible for membership in FRSystem under
certain conditions
Bell Gardens Bank, Bell Gardens, California, application for
continuance of insurance after withdrawal
from membership in FRSystem, advice to
Capital in insured banks, procedures for increasing discussion at meeting, statement of
Mr. Powell on
CaPital requirements of member banks, discussion of draft
of legislation by Mr. Powell with representatives
Draft of legislation presented to
Modified bill to amend FRAct and Revised Statutes sent
to for comments
Certification of banks as members of FRSystem:
Anthony State Bank, Anthony, Texas
Bank of Pontiac, Illinois
People's Bank of Fleming County, Kentucky,
Flemingsburg, Kentucky
Rhode Island Hospital Trust Company, Providence,
Rhode Island
Ci+4
,
-- zens Bank of Aztec, New Mexico, application for continuation of insurance after withdrawal from
membership in FRSystem, advice to
Def
alcations in insured banks, copies of list and chart to
be sent to FRBanks and examiners, advice to
48mination of banks meeting to discuss questions in connection with, statement of Mr. Powell on
6trmers State Bank, Jesup, Iowa, application for continuance of insurance after withdrawal from
membership in FRSystem, advice to
Fi
delay insurance coverage, letter to Mr. Slade on use of
word "maximum" by Mr. Hurl
Rontzdale Bank, Houtzdale, Penna., continuance of insurance
after withdrawal from membership in FRSystem, advice re
f
erson-Gravois Bank of St. Louis, Mo., application for
continuance of insurance after withdrawal
from membership, advice to




145
Pages

7/25

1620

9/14

1936

2/28

465

/0
8 2

1778

3/28

691

11/27

2308

3/6
3/27

496
683

/2
12 1

2403

11/26
2/2

2303
239

1/2

12

11/2

2201

3/28

691

5/4

981

11/27

2306

4/24

889

5/28

1198

11/28

2315

3/21

637

146
Pages
Federal Deposit Insurance Corporation: (continued)
Legislation proposed in draft bill by Mr. Powell re capital
requirements, reserves, and FRnotes, com4/12
ments renuested
capital requirements for membership in
Legislation re
FRSystem, discussion of approval for
/
5 58
71
deposit insurance by
on policy for emergency period
Mergers, joint statement
re paying out of cash, approveo by
Mergers and absorptions between banks requiring prior
consent of Board, statement of policy
8/16
sent to for comments a
Company, Atlanta, Ga., continuance
Peachtree Bank & Trust
of insurance after withdrawal from member9/27
ship in FRSystem, advice to
Beckley, West Virginia, examinations
Raleigh County Bank,
to be continued for time if admitted to
8/16
membership in FRSystem, discussion of
X, enforcement programs, information to
Regulations W and
be furnished to FRBanks, reouest sent to
4/5
Mr. Sailor
Sarasota, Florida, continuation of
Sarasota State Bank,
insurance after withdrawal from membership
7/26
in FRSystem, advice re
should first qualify
State banks accepted for membership
for deposit insurance, suggestion of
1/9
Mr. Powell
, N. Y., applicaSullivan County Trust Company, Monticello
tion for continuance of insurance after
withdrawal from membership in FRSystem,
4/19
advice to
12/6
questionnaire favored by
Taxation of banks, study and
Treasury bonds, valuation and amortization of 2-3/4 per
cent bonds of 1975-80 received in exchange
for 2-1/2 per cent bonds, instructions to
6/1
examiners
?ederal Housing Adminstration:
Regulation W violations where contracts are FHA insured,
procedure for reciproc:il reporting between
3/16
Federal Reserve Banks and FHA
of information
Regulation W enforcement program, exchange
between FRBanks or branches and local
4/13
offices, advice to FRBanks re procedure
to aid
1?edera1 Loan Insurance Associations, plan to establish
5/22
small business
"ral National Mortgage Association:
Policies re purchase of mortgages, discussion at FAC meeting 9/18
R. 5745, to permit commitments to purchaFe certain
mortgages by, report to Bureau of the
10/25
Budget
Ped.
Allen and
'ral Personnel Council, designation of Messrs.
Sprecher as representative and alternate
12/21
to



793

9
19
142
7

1756

2018

1758

741

1634

82

860
2371

1228

611

806
1157
1954
2157

2483

147
Pages
Federal Register:
Open-end investment companies, ruling to be published in
5/14
Personnel employed under Defense Production Act of 1950 and
Executive Order No. 10161, advice to
1/12
Regulation A, amendment approved to exempt defense loans
from negotiability requirement, statement
sent to
3/21
Regulation T, amendment No. 11, statement approved for
8/28
publication in
Regulations T and U, amendment to Supplement to increase
margin requirements, statement re
1/16
Regulation U, interpretation to be published in
12/28
Regulation W:
Amendment No. 2 adopted, statement re
2/21
Amendment No. 3, statement sent to
5/15
Amendment No. 4 approved, statement sent to
7/31
Amendment to exempt pre-1946 model automobiles, notice
inviting comments to be placed in
10/30
Amendment to exempt older model automobiles proposed,
notice sent to
11 1
/
Amendment re calculation of down payment and maximum
loan value for listed articles proposed,
notice sent to
11/28
Amendment No. 5, statement re sent to
12/20
Amendment No. 6, statement re adoption sent to
12
/27
Regulation X:
As amended effective January 12, 1951, statement re
1/5
Amendment to cover nonresidential property, statement
re sent to
2/9
Amendment to Section 6, defense construction, approved,
statement sent to
2/27
Amendment No. 2, statement re
3/15
Amendment No. 3 approved, statement re
3/29
Amendment No. 4, statement on
4/10
Amendment No. 5, registration statement, approved,
advice to
5
/3
Amendment No. 6, statement approved for publication in
8/28
Amendment No. 7 approved, statement sent to
11/13
Amendment No. 8 approved, statement re sent to
12/20
Reierson, Roy L., appointment by Board to assist in matters
under Defense Production Act of 1950 and
Executive Order No. 10161, certification re 9/5
Reserve and central reserve city designations, statement
re sent to
2 19
/
Rules of Organization and Procedure, amendments re subpoenas and witness fees approved, to be
advised
6
/28
Voluntary Credit Restraint, Request and Program transmitted
to
3/9
Voluntary Credit Restraint Program as Amended and Request,
copies sent to
4/20




1047
112

637

1835
128
2514
420
1080
1651
2185
2199
2320
2463
2498
60
310
449
590
696
768
966
1831
2239
2468
1868
373
1456

545
871

148
Pages
nAct:
Amendment re election of members of FAC and terms of office,
resolution of Independent Bankers Associa5/31
tion, comments of FRBanks to be requested
Amendments to provide financial aid to small business in
normal times, suggestions sent to Senator
Robertson
5/21
Amendment recommended by Independent Bankers Association
re election and rotation of members of
FAC, comments of Directors of FRBanks
61
/1
requested
Restrictions on Board members holding office in member bank
after leaving Board, S. J. Res. 78 to make
inapplicable to M. S. Szymczak, report to
8/7
Budget Bureau
Section 9, bill to amend, draft of letter to Banking and
.Currency Committees sent to Bureau of the
6 12
/
Budget
Section 9, proposed bill to amend re capital requirements
for membership in FRSystem and for establishment of out-of-town branches by national
banks and State member banks, modified bill
12 12
/
sent to FDIC for comments
Section 11(1), salaries of employees of Board, discussion
of retroactive provision of general in10/26
crease in connection with
Section 16, amendment to permit FRBanks to pay out without
penalty notes issued by other FRBanks,
4/12
legislation proposed by Mr. Powell
S. 1647, bill to amend Section 13b, statement for hearings
and letter to Senator Robertson approved
7/3
S• J. Res. 78 to make restriction on holding office in
member bank inapplicable to M. S. Szymczak,
report to Senator Maybank
6 2
/1
FIlAp
-ente, Assistant:
Anderson, Morris G., Alternate at FRBank of Minneapolis,
salary approved
2/16
Salary approved
5/15
Salary approved
11/28
Ashley, J. M., Alternate at FRBank of Dallas, salary
approved
4/24
Salary approved
12/13
Barnett, Genevieve M., Alternate at FRBank of Atlanta,
salary approved
6/22
Salary approved
10/3
Barret, Morriss, Jr., Alternate at FRBank of Richmond,
appointment and salary approved
7/13
Authorization to sign checks drawn on gold certificate fund in case of emergency
9/11
Salary approved
12/28
Braker, Elwood J., Alternate at FRBank of Philadelphia,
salary approved
12 12
/




1215

1141

1280

1700

1315

2403
2162

793
1480

1383
358

1088
2313
888
2409
1402

2042

1547
1907

2511

2399

149
Pages
FR-Agents, Assistant: (continued)
Burr, Glendon M., Alternate at FRBank of Philadelphia,
salary approved
Claxton, F. A., Alternate at FRBank of San Francisco,
salary approved
Salary approved
Daeuble, F. William, Alternate at FRBank of Cleveland,
appointment and salary approved
Salary approved
Farnon, J. H. P., Alternate at FRBank of New York,
salary approved
Salary approved
Ferrian, Walter S., FRBank of Minneapolis, appointment
and salary approved
Salary approved
Salary approved
Hammond, 0. W., AXternate at FRBank of Atlanta, salary
approved
Hoppe, Edward H., FRBank of St. Louis, salary approved
Salary approved
Hudel, E. G., FRBank of Dallas, salary approved
Salary approved
Salary approved
Johnson, John, Alternate at FRBank of Minneapolis
salary approved
Salary approved
Kaley, Richard O., Alternate at FRBank of St. Louis,
salary approved
Salary approved
Kolz, Clarence W., Alternate at FRBank of Chicago,
salary approved
Salary approved
. Salary approved
Llster„ G. R., Alternate at FRBank of New York, salary
approved
Matter, Norman R., FRBank of Cleveland, salary approved
Moncrief, D. E., FRBank of Atlanta, salary approved
Mooney, John F., Alternate at FRBank of Boston, salary
approved
Peck, Edison F., Alternate at FRBank of Cleveland, appointment and salary approved
. Salary approved
Prloe, Edward, Alternate at FRBank of Dallas, salary
approved
Salary approved
!
ehfuss, J. Frank, FRBank of Philadelphia, salary approved
" Ynolds, E. K., Alternate at FRBank of New York, salary
e
approved
Salary approved
Scanlon, Charles J., Alternate at FRBank of Chicago,
salary approved
Salary approved




12
/12

2399

6/6
12/19

1259
2453

4/20
10/8

864
2072

1/5
12/29

63
2515

1/4
5/15
7/16

32
1088
1551

10/3
4/19
12/2.0
4/24
7/6
12/13

2042
859
2475
888
1504
2409

5/15
7/16

1088
1551

4/19
12
/20

859
2475

3/30
6/22
9/12

709
1401
1925

12
/29
10/8
12 17
/

2515
2072
2432

10/19

2138

4/20
10/8

864
2072

4/24
12/13
12/12

888
2)409
2399

1/5
12/29

64
2515

6/22
6 6
/2

1401.
1427

150
Pages
FRAgents, Assistant: (continued)
Schelling, Carl, FRBank of Chicago, salary approved
Salary approved
Schussler, George H., Acting Asst. FRAgent at FRBank of
Chicago, appointment and salary approved
Salary approved
Salary approved
Shepherd, Robt. L., FRBank of Richmond, authorization
to sign checks drawn on gold certificate
fund in emergency
Salary approved
Stone, P. M., FRBank of San Francisco, salary approved
Salary approved
Stryker, J. V., FRBank of New York, salary approved
Thompson, George E., Jr., Alternate at FRBank of Richmond,
authorization to sign checks drawn on gold
certificate fund in case of emergency
Salary approved
Trout, Roy M., Alternate at FRBank of Cleveland, appointment and salary approved
Neils, George E., Alternate at FRBank of Boston, salary
approved
FRAgents:
Brainard, George C., FRBank of Cleveland, designation
approved
Caldwell, Robert B., FRBank of Kansas City, designation
approved
Dearmont, Russell L., FRBank of St. Louis, designation
approved
Hodgkinson, Harold D., FRBank of Boston, designation
approved
Lunding, F. J., FRBank of Chicago, designation approved
McCormick, Charles P., FRBank of Richmond, authorization
to sign checks drawn on gold certificate
fund in emergency
Designation approved
l'1eelY, Frank H., FRBank of Atlanta, designation approved
,
,
rarten, J. R., FRBank of Dallas, designation approved
Shepard, Roger B., FRBank of Minneapolis, designation
approved
Steven- Robert T., FRBank of New York, designation ap,
proved
Whittier, Warren F., FRBank of Philadelphia, designation
approved
Wilbur, Brayton, FRBank of San Francisco, designation
approved
t)ents Representatives:
Anderson, J. B., Salt Lake City Branch, salary approved
B
Salary approved
agbY, T. Wesley, Charlotte Branch, salary approved




6/22
6/26

1401
1427

4
/3
5/7
6/22

721
985
1401

9/11
/
12 28
6/6
12/19
12/29

1907
2511
1259
2453
2515

9/11

1907

/28
12

2511

12/18

2hh4

10/19

2138

9/11

1912

9/11

1912

9/11

1912

9/11
9/11

1912
1912

9/11
9/11

1907

9/11
9/11

1912
1912
1912

9/11

1912

9/11

1912

9/11

1912

9/11

1912

6/6
12/19

1259
2453

12/28

2511

151
Pages
3R-Agent8 Representatives: (continued)
Bandi, N., New Orleans Branch, appointment and salary
approved
Salary approved
Boyd, John A., Houston Branch, salary approved
Salary approved
Chase, David E., Oklahoma City Branch, salary approved
Cosgrove, William J., Pittsburgh Branch, salary approved
Cullom, Anna Lou, Nashville Branch, appointment and salary
approved
Salary approved
Dawson, William S., Little rock Branch, appointment and
salary approved
Salary approved
Ducamus, D. J., New Orleans Branch, salary approved
Fairley, William F., Omaha Branch, salary approved
Fraser, C. Hadley, ja Paso Branch, salary approved
Salary approved
Grimm, Francis K., Seattle Branch, appointment and salary
approved
Salary approved
Salary approved
Heath, John L., Helena Branch, appointment and salary
approved
Salary approved
Salary approved
Hicks, William Lester, Jacksonville Branch, appointment
and salary approved
Salary approved
11°1
3Pe, H. B., New Orleans Branch, salary approved
J°Iles, E. Riggs, Jr., Baltimore Branch, appointment and
salary approved
Salary approved
:
,Ones, Everett D., Detroit Branch, salary approved
-T
Aeller, Winfred W., Charlotte Branch, salary approved
MaCee, Stuart H., Nashville Branch, appointment and salary
approved
Salary approved
, Salary approved
4arsh, W. Howard, Cincinnati Branch, salary approved
Mason, George W., Birmingham Branch, appointment and
salary approved
, Salary approved
ilonaghan, Benjamin B., Memphis Branch, salary approved
Salary approved
Salary approved
'
°reland, Hugh, Birmingham Branch, appointment and salary
approved
Salary approved
Salary approved




8 2
/1
10/3
4/24
12/13
6/22
10/8

1787
2042
888
2409
1401
2072

2/28
7/30

463
1642

3/15
5/15
8 1
/3
6 22
/
4/24
12 13
/

597
1088
1850
1401
888
2409

1/16
6/6
12 1
/9

133
1259
2453

5
3/1
61
/
10/24

598
1227
2153

2/26
12 17
/
8/31

440
2432
1850

7/12
12/28
10/8
12/28

15142
2511
2073
2511

2/28
6 22
/
10/3
10/8

463
1402
2042
2072

2/26
10/3
2/16
4/19
12/20

439
2043
358
859

2
/26
4/30
10/3

439
911

2475

2043

152
Pages
FRAgents Representatives: (continued)
Moser, John Richard, Jr., Jacksonville Branch appointment
2/26
and salary approved
Salary approved
3/23
Officer of FRBranch, no objection to service as FRAgent's
Representative if not connected with
money department of branch, advice to
2/26
FRBank of Atlanta
10/8
Ostendorf, Harry H., Cincinnati Branch, salary approved
Parsell, G. H., Louisville Branch, salary approved
12/20
10/8
Pettke, August J., Detroit Branch, salary approved
61
/
Powell, L. W., Helena Branch, salary approved
Salary approved
10/24
Risberg, Ernest V., Portland Branch, appointment and
1/16
salary approved
Salary approved
6/6
12 1
Salary approved
/9
Ritzel, Carl, Memphis Branch, salary approved
12/20
Shipley, Eugene L., Baltimore Branch, salary approved
12/28
6/6
Steffer, L. R., Los Angeles Branch, salary approved
Salary approved
12 19
/
6
/22
Streeter, Earl O., Omaha Branch, salary approved
Trowbridge, Gordon M., Pittsburgh Branch, salary approved
10/8
Young, William R., Denver Branch, salary approved
6 22
/
'ank notes, specimen sets requested by FRBanks of Richmond
8/9
and Dallas
Niank of Atlanta:
Banking quarters:
1/24
No objection to purchase of Silvey Building
No objection to installation of air conditioning in
3/27
Silvey Building
Georgian-American property, no objection to purchase of 5/23
Lease-purchase arrangement for Silvey Building
11/15
approved
Budget:
1/26
Expenses in excess of estimate for 1950 approved
8/7
Expenses in excess of estimate for 1951 approved
11/29
estimate for 1951 approved
Expenses in excess of
Examination, copy of report left for information of
Chairman and directors, comments requested 1/24
4
amination, copy of report left for information of
Chairman and directors, comments requested 9/19
PRNotes:
2/1
Supplemental order for printing
12/13
, Allocation of supplemental order requested for
'iling system:
6/29
Miss Poeppel authorized to make trip to review
Mrs. Pilger authorized to train employee, travel
11/6
expenses approved
Re serves, increase in allowance for estimated losses against
industrial loans to Polk Milk Company ap11 1
proved
/2




44o
654

438
2072
2475
2073
1227
2153
133
1259
2453
2475
2511
1259
2453
1401
2072
1401
1720

182
684
1173
2253
206
1702
2323
182
1965
234
2410
1461
2209

2294

153
Pages

_

----11fik of Atlanta: (continued)
Salaries:
Junior officers at head office and branches approved
Officers, increases to be considered at regular time
because of Government ruling
Officers, approved
Staff:
Adams, J. Lloyd, appointment as assistant examiner
Appointment as examiner approved, formerly assistant examiner
Adams, R. DeWitt, General Auditor, salary approved
Designation as special examiner approved
Allenbach, Victor A., designation as special assistant
examiner
Barnett, Genevieve M., Alt. Asst. FRAgent, salary
approved
Salary approved
Bowden, J. H., Asst. Vice President, salary approved
Bowman, V. K., Vice President, salary approved
Bryan, Malcolm H., President, appointment and salary
approved
Appointment for remainder of five-year term and
salary approved
Congratulatory telegram sent to, in response to
wire from
Camp, C. R., Asst. Vice President, salary approved
Clark, Lewis M., First Vice President, appointment for
five-year term and salary approved
Cobb, Joe Edward, designation as special assistant
examiner
Denmark, J. E., Vice President, salary approved
Gibson, Ralph S., appointment as assistant examiner
Hammond, O. W., salary approved
Langford, Junious Bedford, appointment as assistant
examiner approved
Martin, F. H., Asst. Vice President, salary approved
Martin, I. H., Asst. Vice President, salary approved
Martinez, Bernard, designation as special assistant
examiner
J. Emory, Assistant Vice President, salary
McCorvey,
approved
W. S., Jr., President, retirement, payment of
McLarin,
contribution to be authorized if approved
by directors, advice to Mr. Neely
Retirement system payment approved
Milling, R. h., Asst. Vice President, salary approved
Mitchell, Harold J., appointment as assistant examiner
approved
H., designation as special examiner
Mobley, T.
approved
D. E., Asst. FRAgent, salary approved
Moncrief,




2/23

431

2/23
5/1

431

7/10

1519

10/12
2/23
7/13

2094
431
1548

11/7

2213

6/22
10/3
2 23
/
5/1

1402
2042
431
946

3/20

622

3/22

644

3/26
5/1

669
946

2/23

430

1/10
5/1
7/6
10/3

90
946
1505
2042

1/8
2/23
/
2 23

70
431
431

/
1 12

112

12 2
/7

2499

945

1/11
2/23
2/23

101,105
432
431

12/29

2516

3/19
12/17

614
2432

FRBank of Atlanta: (continued)
Staff: (continued)
Neely, Frank H., Chairman and FRAgent, designation
approved
9/11
Patterson, Harold T., General Counsel, salary approved
5/1
Vice President and General Counsel, salary
approved
12/27
Rainey, E. C., Asst. Vice President, salary approved
2/23
Raisty, Lloyd B., Asst. Vice President, salary approved 5/1
Rauber, E. L., Director of Research, salary approved
5/1
Sanders, Richard Avery, appointment as examiner
7/6
Schuessler, S. P., Vice President, salary approved
5/1
Vallette, Edgar M., designation as special assistant
examiner
1/12
Walter, Theodore, designation as special assistant
examiner
1/12
Wilson, Travis, designation as special assistant examiner
, of Boston:
ILK
Banking quarters, addition and remodeling of building,
call for bids authorized
1/2
Revised building program, no objection to expenditure,
contract to be given to George A. Fuller
Company
3/22
Addition to building, application to National Production Authority for authorization to construct, information re case sent by Board
to
3/28
Budget for 1951, approved, similar letters sent to other
FRBanks
7/19
Charge off of amount to architects in connection with work
omitted from current building project
approved
12/21
PRnotes supplemental order for printing
2/1
Salaries, officers, approved
4/10
Staff
:
Ahern, Joseph M., designation as special assistant
examiner
Aquilino, Daniel, appointment as assistant examiner
Aubrey, Lee J., appointment as assistant examiner
Batho, Carleton J., designation as special assistant
examiner
Belyea, William F., designation as special assistant
examiner
Berge, Ansgar R., Secretary and Asst. Counsel, salary
approved
Bishop, Loretto, Invoice Clerk, Expense Dept., salary
in excess of maximum approved
Boardman, Elliot S., Assistant Cashier, salary
approved
Salary approved




3/6

154
Pages

1912

946
2499
431
946
946

1505
946
112
112
90

13

646

692
1585

2482
234
760

9/4

499
1860
186o

12/14

2424

3/6

499

4/10

761

10/30

2186

2/6
4/10

261
761

9/4

155
Pages
PRBarik of Boston: (continued)
: (continued)
Staff
Capobianco, Alexander C., designation as special
assistant examiner
Chalmers, James H., designation as special assistant
examiner
Colgate, Arthur E., designation as special assistant
examiner
Connell, Marion E., designation as special assistant
examiner
Corkhum, William R., designation as special assistant
examiner
Coveney, James D., designation as special assistant
examiner
Daley, H. Lloyd, designation as special assistant
examiner
Davis, Edward A., Jr., Asst. Vice President, salary
approved
Erickson, Joseph A., President:
Retirement system, agreement covering special payments, approved subject to ruling from
Bureau of Internal Revenue
Appointment for five-year term and salary approved,
increase to be considered after clarification of wage regulations
Appointment for five-year term and salary approved,
increase to await clarification of wage
stabilization ruling, telegram re
Salary approved
Retirement payment, execution of special agreement
directed, advice to Chairman Hodgkinson
Salary approved for temporary period as increase
to be requested, but Board policy re
maximum salary not to be changed at
present
Salary approved
Farrell, Walter Orrin, designation as special assistant
examiner
Appointment as assistant examiner approved
Finn, Irene M., designation as special assistant examiner
Flanders, William F., designation as special assistant
examiner
Appointment as assistant examiner
Fogg, John J., Vice President, salary approved, to retire before April 30, 1952
Gilbody, Frank C., Assistant Cashier, salary approved
Salary approved
Graw, George K., designation as special assistant examiner
Harvey, Robert B., Vice President and Cashier, salary
approved




3/6

499

3/6

499

3/6

499

3/6

499

4/20

864

3/6

499

4/20

864

4/10

761

1/3

19

2/21

421

2/27
4/10

453

6/12

1308

6/21
9/26

1386
2008

10/23
11/7

2147
2213

3/6

499

4/20
9/4

864
1860

4/10
2/6
4/10

761
261
761

3/6

499

3/26

669

760

156
Pages
FRBank
of Boston: (continued)
Staff: (continued)
Harvey, Robert B.: (continued)
4/10
Salary approved
Hatch, F. Meldon, designation as special assistant
4/20
examiner
Hayes, John A., designation as special assistant
4/20
examiner
Hodgkinson, Harold D., Chairman and FRAgent, designa9/11
tion approved
Edward F., designation as special assistant
Holway,
3/6
examiner
Hult, Ellis G., Vice President, salary approved, to
4/10
retire before April 30, 1952
Salary approved during retention in active service 10/25
Kelley, Bernard F., designation as special assistant
4/20
examiner
Kennedy, Alice T.,,designation as special assistant
3/6
examiner
Kenney, Eugene W., designation as special assistant
3/6
examiner
4/10
Latham, Earle 0., Vice President, salary approved
Laverty, Harold, designation as special assistant
3/6
examiner
Loughran, Francis J., designation as special assist3/6
ant examiner
MacDonald, William I., designation as special assist12/28
ant examiner
10/19
Mooney, John F., Alt. Asst. FRAgent, salary approved
Morse, Theo G., designation as special assistant
3/6
examiner
Murphy, Francis J., designation as special assistant
4/20
examiner
excess of maximum approved 4/18
Myers, Francis L., salary in
12/3
Napoli, Charles F., appointment as assistant examiner
President, appointment for
Neal, Alfred C., First Vice
five-year term and salary approved, increase deferred pending clarification of
2/21
wage regulations
for five-year term and salary approved,
Appointment
but at lower rate than recommended, tele2/27
gram
4/10
Salary approved, but at less than recommended
6/21
Salary approved
Nye, Loring C., designation as special assistant
1/2
examiner
Joseph E., Adjustment Clerk, Check Collection
O'Brien,
Dept., salary in excess of maximum
10/33
approved
Thomas L., designation as special assistant
O'Brien,
3/6
examiner




761
864
864
1912
499
761
2157
864

499
499
761

499
499
2510
2138

499
864
348
2331

421

453
760
1386
11

2186

499

157
Pages
FRBank of Boston: (continued)
Staff: (continued)
O'Neil, Edward W., Assistant Cashier, salary approved
Salary approved
Pingree, C. Lewis, designation as special assistant
examiner
Pitman, Carl B., Vice President, salary approved
Quirk, Edward J., designation as special assistant
examiner
Quirk, William M., designation as special assistant
examiner
Rich, William C., designation as special assistant
examiner
Rock, John J., Assistant Cashier, salary approved
Salary approved
Sahagian, Fred D., designation as special assistant
examiner
Savage, E. Isabel, salary in excess of maximum approved
Sawyer, Dana D., Asst. Vice President, salary approved
Schlaikjer, Oscar A., Vice President and General
Counsel, salary approved
Skinnion, John D., designation as special assistant
examiner
Slack, George C., designation as special assistant
examiner
Smith, Albert T., designation as special assistant
examiner
Stanley, Raymond, Adjustment Clerk, Check Collection
Dept., salary in excess of maximum
approved
Stetson, Arthur, designation as special assistant
examiner
Strachan, Frederick T., designation as special assistant examiner
Strong, David L., Auditor, salary approved
Salary approved
Sullivan, John F., designation as special assistant
examiner
Sullivan, Robert L., designation as special assistant
examiner
Temple, Donald M., designation as special assistant
examiner
Tolman, Merton H., designation as special assistant
examiner
Treimann, John A., designation as special assistant
examiner
Van Amringe, Roy F., Vice President, salary approved
Wall, Richard T., designation as special assistant
examiner
Watts, G. Gordon, designation as special assistant
examiner




2/6
4/10

261
761

4/20
4/10

864
761

3/6

499

3/6

499

3/6
2/6
4/10

499
261
761

3/6
4/18
4/10

499
848
761

4/10

761

12/28

2510

3/6

499

3/6

499

10/30

2186

3/6

499

3/6
2/6
4/10

499
261
761

3/6

499

4/20

864

12/14

2424

12/28

2510

3/6
4/10

499
761

4/20

864

3/6

499

FRBank
of Boston: (continued)
Staff: (continued)
Wells, George E., Alt. Asst. FRAgent, salary approved
Wostrel, Herbert J., designation as special assistant
examiner
Zehner, Louis A., Asst. Vice President, salary approved
PR
Baxik of Chicago:
Budget, expenses in excess of estimate for 1951 approved,
further advice for year to be submitted
Examination, copy of report left for information of Chairman and directors, comments requested
PRnotes, supplemental order for printing
Allocation of supplemental order requested for
Group life insurance for FRSystem, application to be executed on behalf of FRBanks, Board and
Retirement System by, advice to FRBanks
Authorized to execute application with Connecticut
General -Life Insurance Company for group
life insurance
Salaries:
Junior officers, approved
Officers, review to be made at regular time because
of general Regulation No. 5 of Wage
Stabilization Board
Delay in review, advice to Mr. Young
Approved
Staff
:
Ammerman, Chester A., split shift elevator operator,
salary in excess of maximum approved
Barton, Orville C., Assistant General Counsel, salary
approved
Assistant Secretary, appointment noted
Assistant General Counsel and Assistant Secretary,
salary approved
Bauer, Donald L., appointment as assistant examiner
Black, Allan M., Vice President, salary approved
Salary approved
Consultant to GAO, no objection to arrangement for
services and fees
Bristow, E. D., Asst. Cashier, salary approved
Carey, Paul F., designation as special assistant examiner
Carroll, P. C., Asst. Cashier, salary approved
Asst. Vice President, salary approved
Conklin, H. H., Asst. Cashier, salary approved
Crowe, John, salary approved
Cwynar, Ignacy, window washer, salary in excess of
maximum, advice requested re
Salary approved
Salary in excess of maximum approved
Dawes, Neil B., Secretary, appointment noted
Vice President and Secretary, salary approved




158
Pages

10/19

2138

4/20
4/10

864
761

12/13

2409

6/7
2/1
11/13

1273
234
2242

10/26

2175

11/1

2195

2/20

406

2/20
3/29
4/10

406
705
763

11/8

2216

2/8
2/8

276
277

2/20
6/28
2/8
4/10

406
1458
276
764

4/26
2/20

899
406

11/14
2/20
7/10
2/20
10/16

2246
406
1519
407
2116

2/2
2/8
11/16
2/8
4/10

238
276
2267
277
764

159
Pages
FRBatik
of Chicago: (continued)
Staff: (continued)
4/10
Diercks, W. R., Vice President, salary approved
4/10
Endres, John J., Auditor, salary approved
7/10
General Auditor, salary approved
Fults, Elbert O., appointment as examiner approved,
to dispose of stock in Genesee County
7/31
Savings Bank, Flint, Mich.
Gohr, Lester, designation as special assistant ex12/21
miner
2/20
Gustayson, A. M., Asst. Auditor, salary approved
7/10
Asst. General Auditor, salary approved
/8
62
Hanrahan, Edward V., appointment as assistant examiner
Harris, E. C., First Vice President, appointment for
1/30
five-year term approved
2/8
Reappointment and salary approved
4/10
Salary approved
10/16
Hartnett, Wm. J., salary approved
2/8
Heath, Edward A., Asst. Secretary, appointment noted
2/20
approved
Asst. Cashier and Asst. Secretary, salary
Designation as Acting Assistant Director of Division of Selective Credit Regulation for
3/9
remainder of assignment at Board
Extension of assignment at Board for 20 days re6/25
quested
10/16
Hicks, Eldon E., salary approved
Hodge, Paul C., General Counsel:
Designation to take testimony in investigation of
1/25
Roy's Appliance Company
of
Designation to take testimony in investigation
1/30
Bogda Motor Company, Inc.
4/10
Salary approved
Time schedule for completion of Transamerica hear5/15
ings, recommendations re
Marine Midland Corporation as
Memo re status of
bank holding company under section 7 of
12/14
Clayton Act
2/8
President, salary approved
Hopkins, Walter A., Vice
4/10
Salary approved
9/24
Jensen, Olaf, appointment as assistant examiner
2/8
Cashier, salary approved
Jones, Laurence H.,
4/10
Salary approved
3/30
Kolz, Clarence W., Alt. Asst. FRAgent, salary approved
6/22
Salary approved
9/12
Salary approved
salary in excess of maximum, advice
Komes, George,
2/2
requested
2/8
Salary approved
10/16
Salary approved
Kopsa, Carl J., Jr., Asst. Chief Engineer, salary
2/2
below minimum approved




764
764
1519

1660
2484
406
1519
1458
216
276
763
2116
277
407

547
1410
2116

186
215
764
1077

2418
276
764
1987
276
764
709
1401
1925
238
276
2116
238

160
Pages
FRBank of Chicago: (continued)
Staff: (continued)
Laibly, C. T., Asst. Cashier, salary approved
Asst. Vice President, salary approved
Langum, John K., Vice President, resignation accepted,
severance allowance approved
Lies, M. A., Asst. Vice President, salary approved
Lindsten, Frank A., Asst. Vice President, salary approved but at less than recommended
Lunding, F. J., FRAgent, designation approved
Meyer, L. G., Asst. Vice President, salary approved
Mitchell, George W., Vice President in Charge of Research Department, appointment to be
approved, to succeed Mr. Langum
Extension of leave to continue as Director of
Finance for State of Illinois approved
Appointment and salary approved
Member of committee to study taxation of banks
Mossman, Frank D., salary approved
Newman, H. J., Asst. Cashier, salary approved
Novak, Frank A., salary approved
Olson, A. L., Vice President, salary approved
Petersen, I. J., Asst. Vice President, salary approved
Petersen, Louis, salary approved
Purrington, F. L., Asst. Vice President, salary
approved
Robinson, Roland I., employment to make study re
effect of taxes on bank earnings approved
Saltnes, C. M., Asst. Cashier, salary approved
Scanlon, Charles J., Alt. Asst. FRAgent, salary
approved
Salary approved
Schelling, Carl, Asst. FRAgent, salary approved
Salary approved
Schussler, George H., Acting Asst. FRAgent, appointment
and salary approved
Salary approved
Salary approved
Scott, Thomas William, designated special assistant
examiner
Appointment as assistant examiner
Sheerin, Joseph, salary approved
Shirey„ E. F., Asst. Cashier, salary approved
Sihler, Alfred T., Vice President, salary approved but
at less than recommended
Mildred, stenographer, salary not subject to
Smith,
Board approval
Smyth, B. L., Asst. Cashier, salary approved
Spaeth, Carl F., Jr., appointment as examiner approved,
formerly assistant examiner
Stewart, F. J., salary in excess of maximum, advice
requested




4/10
7/10

764
1519

2/2
4/10

237
764

4/10
9/11
4/10

764
1912
764

1/25

192

1/26
2/8
11/14
10/16
4/10
10/16
4/10
2/20
10/16

203
277
2247
2116
764
2116
764
406
2116

4/10

764

12/6
2/20

2375
407

6/22
6/26
6/22
6/26

1401
1427
1401
1427

4/3
5/7
6/22

721
985
1401

4/4
9/24
10/16
2/20

724
1987
2116
407

4/10

764

6/22
2/20

1402
407

6 19
/

1375

2/2

238

161
Pages
FRBank of Chicago: (continued)
Staff: (continued)
Stewart, F. J.: (continued)
Salary approved
Salary approved
Stuart, Clifford O., salary approved
Swaney, R. A., Asst. Cashier, salary approved
Designation as special assistant examiner approved
Name deleted from list of special assistant examiners
Turner, W. W., Vice President, salary approved
Ukinski, Stanley A., window washer, salary in excess
of maximum, advice requested
Salary approved
Salary in excess of maximum approved
Van Zante, C. P., Chief Examiner, salary approved
Weber, Robert J., appointment as examiner, formerly
assistant examiner
Wilson, H. F., Asst. Vice President, salary approved
Wimberley, Shelby L., salary approved
Young, C. S., President, appointment for five-year
term approved
Reappointment for five-year term and salary
approved, increase to be considered after
clarification of general wage stabilization regulation
Salary approved
PRBanip
of Cleveland:
Budget for 1951, expenses for Regulations V and X approved
BY-laws, amendment to substitute title "General Auditor"
for "Auditor"
Charge off of architects' fees for work at Cincinnati
Branch which was postponed authorized
Counsel:
Squire, Sanders & Dempsey, employment in connection
with suit filed against Bank by Bank of
America approved
Examination report, Board to be advised re, study of use
of nonmember clearing account, practice
of safekeeping securities not owned by
member banks to be discontinued
FRnotes, supplemental order for printing
Allocation of supplemental order requested for
Salaries:
Employees, increase in structure approved
Officers, approved
Increases to be considered at regular time for
review in accordance with General Regulation No. 5 by Wage Stabilization Board
Approved
Approved




2/8
10/16
10/16
2/20
5/7

276
2116
2116
407
985

12/21
4/10

2484
764

2/2
2/8
11/16
4/10

238
276
2267
764

62
/8
2/20
10/16

1459
406
2116

1/30

216

2/8
4/10

276
763

1/10

97

12/28

2512

12/21

2482

2/27

459

1/18
2/1
12/26

142
234
2487

8/28
1/23

1837
172

2/12
4/17
/
94

323
831
1857

162
Pages
?Riknk
of Cleveland: (continued)
Staff:
Blair, Wilbur T., Vice President, Counsel and Secretary, salary approved
Designation to take testimony in investigation of
A. Harris Motor Sales
Salary approved
Salary approved
Boanas, Arthur T., designation as special assistant
examiner
Bolthouse, C. J., Asst. Cashier, salary approved
Sdlary approved
Salary approved
Boyd, H. M., Chief Examiner, salary approved
Salary approved
Salary approved
Brainard, George C., Chairman and FRAgent, designation
approved
Burton, Don Lee, appointment as assistant examiner
Cassell, Paul H., designation as special assistant
examiner
Clouse, R. R., Vice President, salary approved
Salary approved
Daeuble, F. William, Alt. Asst. FRAgent, appointment
and salary approved
Salary approved
Deady, Daniel J., designation as special assistant
examiner
Denton, Elwood W., Asst. Cashier, salary approved
Salary approved
Salary approved
Didham, P. B., Asst. Cashier, salary approved
Salary approved
Salary approved
Ehninger, C. F., Auditor, salary approved
Salary approved
General Auditor, salary approved, title changed
from Auditor
Emde, G. H., Asst. Cashier, salary approved
Salary approved
Salary approved
Evans, Howard 0., designation as special assistant
examiner
Fletcher, William H., First Vice President, reappointment to be considered at next meeting of
Board
Appointment for five-year term approved
Appointment for five-year term and salary approved,
resignation to be not later than December
31, 1952




1/23

172

/0
1 3
4/17
9/4

213
832
1857

1/4
1/23
4/17
/
94
1/23
4/17
9/4

32
172
832
1857
172
832
1857

9/11
9/4

1912
1860

1/4
4/17
9/4

32
832
1857

4/20
10/8

864
2072

1/4
1/23
4/17
/
94
1/23
4/17
9/4
4/17
9/4

32
172
832
1857
172
832
1857
832
1857

12/28
1/23
4/17
/
94

2512
172
832
1857

1/4

32

1/23
1/30

170
216

2/8

275

163
Pages
FlIllank of Cleveland: (continued)
Staff: (continued)
Flinkers, H. B., Assistant Secretary, salary approved
Salary approved
Salary approved
Gidney, Ray M., President, reappointment to be considered at next meeting of Board
Appointment for five-year term approved
Appointment for five-year term and salary approved
Hostetler, L. M., Manager, Research Dept., salary
approved
Salary approved
Salary approved
Kunz, Robert H., designation as special assistant examiner
Laning, A. H., Vice President and Cashier, salary
approved
Salary approved
Lowe, J. R., Asst. Cashier, salary approved
Salary approved
Salary approved
MacDonald, Walter H., appointment as assistant examiner
approved
Matter, Norman R., Asst. FRAgent, salary approved
Miller, J. M., Asst. Cashier, salary approved
Salary approved
Salary approved
Morrison, Martin, Vice President, salary approved
Salary approved
Ormiston, Thomas E., designation as special assistant
examiner
Parrett, David S., appointment as assistant examiner
Peck, Edison F., Alt. Asst. FRAgent, appointment and
salary approved
Salary approved
Plagman, Alvin Chester, appointment as examiner approved, formerly assistant examiner
Ross, G. R., Asst. Cashier, salary approved
Salary approved
Salary approved
Smith, H. E. J., Asst. Vice President, salary approved
Salary approved
Stetzelbcrger, P. C., Vice President, salary approved
Salary approved
Thompson, D. S., Vice President, salary approved
Salary approved
Study of taxation of banks, suggested by Mr.
Daniel Y. Bali for making
of committee to study taxation of banks
Member
Trout, Boy M., Alt. Asst. FRAgent, appointment and
salary approved




1/23
4/17
94
/

172

832
1857

1/23
1/30
2/8

170
216

1/23
4/17
9/4

172
832
1857

1 4
/

275

32

832

4/17
9/4
1/23
4/17
9/4

1857
172
832
1857

5/15
10/8
1 2
/3
4/17
9/4
4/17
9/4

1085
2072
172
832
1857
832
1857

14
/
8/27

32
1822

4/20
10/8

2072

864

12/29
1/23
4/17
9/4
4/17
9/4
4/ 7
1
9/4
4/17
9/4

2516
172
832
1857
832

10/15
11/14

2110
2247

12/18

2444

1857
832
1857
832
1857

164
Pages
PRBank of Dallas:
Banking quarters, no objection to program of construction
of coin vault and other alterations at
cost not to exceed $125,000
Budget, expenses in excess of estimate for 1951 budget
approved
copy of report left for information of ChairExamination,
man and directors, crowded condition of
vaults and safekeeping practice at San
Antonio Branch noted, advice re requested
FRnotes, specimen sets requested
Salaries:
Employees, increase in salary structure approved
Officers, approved
To be approved if submitted formally
Approved
Staff:
Ashley, J. M., Alt. Asst. FRAgent, salary approved
Salary approved
Austin, E. B., Vice President, salary approved
Berg, E. H., Asst. General Auditor, salary approved
Assistant Cashier, salary approved
Carrithers, Howard, Asst. Cashier, salary approved
Salary approved
Coleman, R. B., Vice President, salary approved
Cook, J. L., Asst. Cashier, salary approved
Salary approved
Vice President and Cashier, salary approved
Daniels, Leon, General Auditor, salary approved
DeMoss, H. R., Vice President, salary approved
Resignation
Gentry, W. D., First Vice President, appointment for
five-year term and salary approved, to
resign at same time as Mr. Gilbert in
1953, statement to be placed in confidential files
Gilbert, R. R., President, appointment for five-year
term and salary approved, resignation
to be at age 65, statement to be placed
in confidential files
Hudel, E. G., Asst. FRAgent, salary approved
Salary approved
Salary approved
Irons, W. H., Vice President, salary approved
Kilman, H. W., Asst. Cashier, salary approved
Salary approved
McCormick, Hoyt, designation as special assistant
examiner
McGee, C. F., designation as special assistant examiner
Parten, J. R., Chairman and FRAgent, designation
approved




7/26

1630

10/15

2112

5/4
8/9

977
1720

12/12
1/3
5/15
5/29

2402
20
1082
1210

4/24
12/13
5/29
5/29
9/28
1/3
5/29
5/29
1/3
5/29
9/28
5/29
5/29
9/28

888
2409
1211
1211
2027
21
1211
1211
21
1211
2026
1211
1211
2026

2/27

454

2/27
4/24
7/6
12/13
5/29
1/3
5/29

454
888
1504
2409
1211
21
1211

9/4
9/4

1860

9/11

1912

1860

165
Pages
RBank of Dallas: (continued)
Staff: (continued)
1/3
Plant, T. W., Asst. Cashier, salary approved
5/29
Salary approved
Cashier, salary
Pondrom, L. G., Vice President and
5/29
approved
designation as officer in
Appointment as Examiner,
charge of bank examination function, and
9/28
salary approved
resolution of
President and First Vice President,
directors cn salaries, no change to be
6/21
made in present policy
4/24
FRAgent, salary approved
Price, Edward, Alt. Asst.
12/13
Salary approved
Vice President and Secretary
Rice, Morgan H., Asst.
5/29
of Board, salary approved
with assistance to Pakistan,
Services in connection
arrangement to be approved for one year,
9/20
advice to State Department
3/22
Assistant Counsel, salary approved
Rudy, George F.,
5/29
Salary approved
John, appointment as assistant
Schoenhoff, Robert
11/21
examiner
Leroy, designation as special assistant
Scott, Curtis
7/25
examiner
5/29
Counsel, salary approved
Shuford, Harry A.,
5/29
President, salary approved
Smyth, Mac C., Vice
Steele, John Albert, Jr., designation as special
11/27
assistant examiner
Allen, Jr., appointment as assistant
Tharp, Maurice
8/1
examiner
1/3
W. D., Asst. Cashier, salary approved
Waller,
5/29
Salary approved
3/30
,
pp
Wood, Jack Gilbert, appointment as assistant examiner
44
'
°ank of Kansas City:
Examination, copy of report left for Chairman and directors,
further information requested re safekeeping of securities for local member banks,
Auditing Department, and strengthening of
9/19
senior official staff
FRnotes:
2/1
Supplemental order for printing
10/19
Allocation of supplemental order requested for
Salaries:
Employees, salaries below minimums approved for several 1/3
12/12
Increase in salary structure approved
1/3
Officers, approved
6/12
Approved
at present
Senior officers, adjustments cannot be made
/
2 23
because of salary stabilization orders
:
Staff
Adams, Warren, designation as special assistant
1/19
examiner



21
1211
1211

2026

1387
888
2409
1211

1976
644
1211
2294
1619
1211
1211
2311
1665
21
1211
710

1966
234
2138
20
2401
19
1309
432

151

166
Pages
FRBank of Kansas City: (continued)
Staff: (continued)
Auditing Department, further information re strengthening requested
Beumer, Ann, designation as special assistant examiner
Blair, Marie, designation as special assistant examiner
Blakeman, Marvin, designation as special assistant
examiner
Bollinger, C. L., Auditor, salary approved
Salary approved
Boysen, John T., Assistant Cashier, salary approved,
but increase to be deferred pending
clarification of general wage stabilization regulation
Salary approved
Salary approved
Brooks, Kenneth E., designation as special assistant
examiner
Appointment as assistant examiner approved
Buckles, Wanda, designation as special assistant
examiner
Bush, Mary, designatien as special assistant examiner
Butler, Lucille, designation as special assistant
examiner
Caldwell, Robert B., Chairman and FRAgent, designation
approved
Cockrell, Paul E., designation as special assistant
examiner
Compton, Russell L., designation as special assistant
examiner
Corby, Harry G., designation as special assistant
examiner
Counsel, successor to Mr. Johns, resignation as member
of Board of Election Commissioners
necessary before appointment, Mr. Vest
to discuss matter with Mr. Leedy
Cravens, C. A., Assistant Cashier, salary approved
Salary approved
Curp, Beverly, designation as special assistant
examiner
P. A., Assistant Cashier, salary approved
Debus,
Salary approved
Diehl, Dale, designation as special assistant examiner
Emrick, Lavina, designation as special assistant examiner
Finley, Wm. R., designation as special assistant examiner
Gaffney, Ada R. (typist), designation as special
assistant examiner
Glinka, Sophie, designation as special assistant
examiner
Gore, Felix, designation as special assistant examiner




9/19
2/7
2/7

1966
265
265

1/19
1/3
6/12

151
20
1310

1/31
2/9
6/12

226
312
1310

2/7
62
/0

265
1380

2/7
2/7

265
265

2/7

265

9/11

1912

1/19

151

1/19

151

2/7

265

8/2
1/3
6/12

1668
20
1310

2/7
1/3
6/12
1/19

265
20
1310
151

2/7

265

1/19

151

1/19

151

2/7
1/19

265
151

167
Pages
PRBank of Kansas City: (continued)
Staff: (continued)
Grasby, Pattie, designation as special assistant
2/'7
examiner
1/3
Gregory, G. A., Asst. Vice President, salary approved
6/12
Salary approved
Haines, Mary Helen (typist), designation as special
1/19
assistant examiner
Hansen, Marjorie, Transcript Clerk, Accounting Depart/
ment, salary in excess of maximum approved 6 22
Hill, Rodney Ray, designation as special assistant
1/16
examiner
Appointment as assistant examiner approved, formerly
12/17
special assistant examiner
Humphreys, Harold Winfred, Jr., designation as special
assistant examiner while trainee for
11/14
position as assistant examiner
Johns, Delos C., appointment as President of FRBank of
1/11
St. Louis and salary approved
Koppang, Henry 0., First Vice President, appointment
for five-year term and salary approved,
2/23
no increase to be considered at present
6/12
Salary approved
Leavitt, Brenton C., appointment as examiner approved,
7/6
formerly assistant examiner
Leedy, H. G., President, appointment for five-year
term and salary approved, no increase to
2/23
be considered at present
6/12
Salary approved
To represent System on Kansas City Regional Defense
7/24
Mobilization Committee
Flood disaster rehabilitation, summary of addi8/13
tional steps taken
Flood relief, formation of committee to be under
81
/4
chairmanship of
Regulation X, amendment proposed re flood situa8/16
tion in Midwest
construction of
Amendment proposed to exempt
houses to replace those damaged by flood,
8/17
views requested
Committee on Financial
To serve as Chairman of
8/16
Problems of Flood Disaster
14
/
Maude, salary approved
Lindenberg,
designation as special assistant examMarqua, Frank,
1 19
/
iner
designation as special assistant exMasur, Agnes,
2/7
aminer
designation as special assistant
Meeker, Louis H.,
1/19
examiner
Ernestine, designation as special assistant
Miller,
2/7
examiner
1/3
Mills, L. F., Chief Examiner, salary approved
6 12
/
Salary approved



265
19
1310
151
1400
132
2432

2246
104

432
1310
1536

432
1310
1614
1730
1736
1761

1774
1763

33
151
265
151
265
20
1310

168
Pages
FRBank of Kansas City: (continued)
Staff: (continued)
Neudorff, Mildred, designation as special assistant
2/7
examiner
Official, strengthening of senior, information re9/19
quested re plans for
1/3
Park, M. W. E., Asst. Vice President, salary approved
6/12
Salary approved
Phillips, John, Jr., Vice President, retirement age
2/9
to be reached in 1951
3/29
Retention in service and salary approved
Pope, Joseph M., designation as special assistant
1/19
examiner
Roche, John O., designation as special assistant
1/19
examiner
1/3
Sandy, C. E., Cashier, salary approved
6/12
Salary approved
Satterfield, Isabel, designation as special assistant
2/7
examiner
Screechfield, F. L., appointment as examiner approved,
7/6
formerly assistant examiner
1/4
Shaw, Roy, salary approved
1/3
Sherman, E. U., Asst. Vice President, salary approved
6/12
Salary approved
1/4
Snow, John R., salary in excess of maximum approved
Spurlock, John B., designation as special assistant
1/19
examiner
Tow, Clarence W., Director of Research, salary in1/3
crease, to be considered later
6/12
Salary approved
1/3
Vanderhoof, E. D., Assistant Cashier, salary approved
6/12
Salary approved
Wenski, Elizabeth, designation as special assistant
2/7
examiner
1/3
Cashier, salary approved
White, J. T., Assistant
6/12
Salary approved
6/12
Vice President, salary approved
Woolley, D. W.,
Robert, appointment as assistant examiner,
Young, Dean
12/17
formerly special assistant examiner
13°Llik of Minneapolis:
Banking quarters, addition to building, authorization for
10/9
proceeding with preparation of plans for
11/29
Budget, expenses in excess of estimate for 1951 approved
Examination, copy of report left for information of Chair6/27
man and directors, comments requested
2/1
FRnotes, supplemental order for printing
Regulation W violations, methods used in investigation,
7/19
letters to Congressmen Thye and Wier
Advice re contract between Dean Jones and Patsey Motor
8/3
Company sent to Congressmen Thye and Wier
Salaries:
2/13
Officers, approved
5/1
Approved



265
1966
19
1310
312
705
151
151
19
1310
265

1505
33
20
1310
33
151
20
1310
20
1310
265
20
1310
1310
2432

2077
2323
1438
234
1591
1683
334
946

169
Pages
HBank of Minneapolis: (continued)
Staff:
Anderson, Morris G., Alt. Asst. FRAgent, salary
approved
Salary approved
Appointment as examiner, formerly assistant
examiner
approved
Salary
Briere, Robert G., appointment as examiner, formerly
assistant examiner, not to participate
in examination of Princeton State Bank,
Princeton, Minn., as indebted to
Core, H. C., Vice President in Charge of Personnel,
salary approved
Dreitzler, Ralph J., appointment as examiner, formerly
assistant examiner, not to participate
in examination of First Robbinsdale State
Bank, Robbinsdale, Minn., as indebted to
Ferrian, Walter S., Asst. FRAgent, appointment and
salary approved
Salary approved
Salary approved
Fossum, K. K., Asst. Cashier, salary approved
Groszkruger, Carleton Paul, appointment as assistant
examiner approved
Johnson, A. W., Asst. Cashier, salary approved
Johnson, John, Alt. Asst. FRAgent, salary approved
Salary approved
Larson, A. R., Asst. Vice President, salary approved
Larson, E. B., Vice President, salary approved
Lee, Arthur I., designation as special assistant examiner approved, formerly assistant
examiner
Lemm, Robert J., designation as special assistant
examiner
Lysen, M. E., Operating Research Officer, salary
approved
McConnell, H. G., Vice President, salary approved
Mills, A. W., First Vice President, appointment for
five-year term approved
Appointment and salary approved, action on proposed
increase deferred
Salary approved
Ohnstad, O. V., Auditor, salary approved
Parsons, F. L., Associate Director of Research, salary
approved
Peterson, J. Marvin, Director of Research, salary
approved
Peterson, W. E., Asst. Cashier, salary approved
Peyton, J. N., President:
Appointment for five-year term approved




2/16
5/15

358
1088

11/28
11/28

2313
2313

17/28

2313

5/1

946

11/28

2313

1/4
5/15
7/16
2/13

32
1088
1551
335

3/12
2/13
5/15
7/16
2/13
5/1

566
335
1088

7/23

1604

67
/

1273

2/13
5/1

335
946

1/30

216

2/13
5/1
2/13

334
946
335

2/13

335

5/1
2/13

946
335

1/30

216

1551
335
946

170
Pages
PRBank of Minneapolis: (continued)
Staff: (continued)
Peyton, J. N., President: (continued)
Reappointment and salary approved
Salary approved
Retirement payment, execution of special agreement
directed, advice to Chairman Shepard
Regulation W investigations, advice re methods
used
Preston, 0. R., Vice President, salary approved
Ries, Chris, Asst. Cashier, salary approved
Rockwell, G. M., Asst. Cashier, salary approved
Sather, M. 0., Asst. Cashier, salary approved
Shepard, Roger B., Chairman and FRAgent, designation
approved
Sprecher, H. Franklin, Jr., appointment as Assistant
Director of Division of Personnel Administration at Board, salary and travel
expenses approved
Strothman, M. H., Jr., Vice President, salary approved
Turner, W. H., Asst. Cashier, salary approved
Ueland, Sigurd, Vice President, Counsel, and Secretary,
salary approved
Van Nice, C. A., Asst. Vice President, salary approved
FRBn.,
-uk of New York:
Banking quarters, fluorescent lighting and revisions to
electrical system authorized
Budget for 1951, to be increased for salaries of employees
and for Retirement System contributions
Budget, additional expenses for 1951 approved
Budget for 1952 approved, item for proposed film to be discussed by Chairman Martin and Mr. Norton
with Mr. Sproul before commitment
Cash collateral accounts held by member banks against outstanding commercial letters of credit,
considered deposits for purposes of reserve requirements, advice to Mr. Sproul
Contributions:
Community welfare projects, no change in Board policy
re, advice to Mr. Sproul
Destruction of records relating to foreign exchange control requested
Examination of State member banks in District, schedule
recommended re, not to be adopted without
further consideration of procedures,
advice to Mr. Sproul
FRnotes, supplemental order for printing
Fi
seal Agency Agreement with International Bank for Reconstruction and Development, approved in
form of proposed Supplement No. 1
Approved in form of proposed Supplement No. 2




2/13

334

5/1

946

6/12

1308

8/3
5/1
2/13
2/13
2/13

1683
946

9/11

1912

5/28
2/13
5/1

1194

335
335
335

335
946

5/1

946

2/13

335

4/18

849

2/12
2/27

459

322

12/7

4381

8/6

1689

3/7

537

7/25

1640

11/28
2/1

2316
234

2/26
9/7

1887

444

171
Pages
FR8ank of New York: (continued)
Foreign accounts:
Banque Nationale Suisse, operation on books of FRBank
in event of occupation of Switzerland,
Board to discuss with State Department
if desired
Central Bank of Ceylon, opening approved
De Nederlandsche Bank N.V., establishment of joint
account for use in event of possible invasion of Netherlands, Board to cooperate
And Trustfonds Nederlandsche Bank, opening of
joint account approved, to be operated in
event of invasion of Netherlands
Opening of joint account designated Nederlandsche
Bank by
Opening approved
Government of Japan as agent for SCAP, negotiations
to be conducted with Messrs. Allison and
Diehl
National Bank of Iraq, opening of account approved
Loans:
Banco de Guatemala, approved
Banque Centrale de la Republique de Turquie, approved
Mergers and absorptions between banks requiring prior
written consent of Board, procedure re,
reply to letter from Mr. Sproul
Salaries:
Employees, increase in salary structure approved
Officers, views of directors and information to be
studied re
Approved
Increases not to be considered at present because
of salary stabilization orders
Delay in review, advice to Mr. Sproul
Approved
No change in decision re Presidents and First Vice
Presidents and salaries of Messrs. Knoke,
Logan, and Rouse
Staff;
Abrahams, Wm. F., Manager, salary approved
Bailey, Henry J., political activities, no objection to
Bell, Harry W., salary in excess of maximum approved
Bilby, Harold A., Vice President, salary approved
Bloomfield, Arthur I., granted leave of absence to
assist in banking and monetary reconstruction of South Korea
Bodnaruk, John, appointment as assistant examiner
Boston, Lyon, outside business connections, no objection to
Bowman, Curtis R., General Auditor, salary approved
Boyd, Harry M., Manager, salary approved
Breighner, Daniel J., appointment as assistant examiner




/
4 5
/
2 2

737
239

3/14

583

4/23

873

8/23
12/21

1805
2484

1/29
5/7

209
986

10/5
8/24

2070
1819

8/6

1689

12/12

2399

1/5
1/25

63
194

2/26
3/29
4/10

438
705
761

6/21

1387

4/10
1/12
5/23
4/10

762
111
1172
762

9/26
10/23

2007
2147

1/12
4/10
4/10
2/2

111
762
762
237

172
Pages
FRBank of New York: (continued)
Staff: (continued)
Brown, Thomas B., Jr., designation as special assistant examiner
Burt, Wesley W., Manager, salary approved
Calhoun, John C., designation as special assistant
examiner
Examiner, appointment by Board to examine Bank of
America, N. Y.
Patrick F., appointment as assistant exCallahan,
aminer
Cameron, Donald J., Asst. Vice President, salary
approved
Mrs. Rose, salary in excess of maximum
Cappiello,
approved
Carroll, J. J., Asst. Vice President, salary approved
Salary approved
Chase, Albert C., designation as special assistant
examiner
Appointment by Board to examine Bank of America,
N. Y.
Clarke, John J., Secretary and Assistant Counsel,
salary approved
Cowan, Harding, Asst. Counsel, salary approved
Salary approved
Asst. Counsel and Acting Asst. Secretary, salary
approved
Crosse, Howard D., Asst. Vice President, salary
approved
To participate in Puerto Rican mission
Assumption of certain expenses by FRBank of New
York approved
Davis, Felix T., Asst. Vice President, salary approved
Davis, Norman P., Asst. Vice President, salary approved
Dickinson, Philip L., designation as FRExaminer to
examine foreign branches
Dillistin, W. H., former General Auditor, to come to
Washington to discuss mission to Greece
Dolan, Mary, salary in excess of maximum approved
Duffy, George F., salary in excess of maximum approved
Eaton, Charles, appointment as examiner approved,
formerly assistant examiner
Emond, Eugene P., appointment as assistant examiner
English, Mary, salary in excess of maximum approved
Farnon, J. H. P., Alt. Asst. FRAgent, salary approved
Salary approved
Fitchen, Paul R., Manager, salary approved
Granted leave without pay to serve as financial
adviser to Union Bank of Burma, Rangoon,
Burma
Fleming, John, salary in excess of maximum approved
Frank, Stephan K., designation as special assistant
examiner



9/24
4/10

1987
762

11/14

2246

11/26

2301

8/13

1732

10/2

2034

5/1
1/25
4/10

948
194
762

11/14

2246

11/26

2301

4/10
1 25
/
4/10

762
194
762

6/25

1411

4/10
9/17

762
1945

11/26
4/10
4/10

2302
762
762

4/27

910

/
64
5/23
5/23

1234
1172
1172

8/13
5/31
5/23
1/5
12/29
4/10

1732
1220
1172
63
2515
762

6/20
5/23

1380
1172

8/13

1732

173
Pages
Fntaak
of New York: (continued)
Staff: (continued)
Garvy, George, publication of "Development of Bank
Debits and Clearings and Their Use in
Economic Analysis", distribution, and
7/5
cost approved by Board
Granted leave with pay to work with International
Bank in assisting Government of Nicaragua 10/17
Giachetti, Anthony, appointment as examiner, formerly
2/2
assistant examiner
Glaessner, Philip J. W., economist, leave of absence
without pay to complete assignment for
International Bakfibr Reconstruction and
1/18
Development
year to become
Granted leave without pay for one
Economic Officer on Brazil-United States
8/21
Commission for Economic Development
Secretary,
Guy, Edward G., Asst. Counsel and Asst.
/
1 25
salary approved
4/10
Salary approved
Hamel, Alfred E., designation as special assistant
2/27
examiner
salary
Harris, Marcus A., Asst. Vice President,
4/10
approved
4/10
Heinl, William A., Manager, salary approved
Hicks, Francis J., salary in excess of maximum approved 5/23
Hines, Allan C., designation as special assistant ex2/2
aminer
exHoch, John J., designation as special assistant
7/3
aminer
5/23
approved
Humphreys, Wm., salary in excess of maximum
special assistant
Kayser, Frank X., designation as
2/2
examiner
4/10
salary approved
Kimball, Herbert H., Vice President,
Kirmss, Alfred, appointment as examiner, formerly
2/2
assistant examiner
to examine Bank of America,
Appointment by Board
11/26
N. Y.
President, salary approved but
Knoke, L. Werner, Vice
4/10
at less than recommended
6/21
decision
No change in previous
2/27
J., appointment as assistant examiner
Kraft, Frederick
A., economist, mission to Iraq sponsored
Kriz, Miroslav
by International Bank, granted leave with
2/23
pay to serve on
further leave of absence to complete assignGranted
7/20
ment with International Bank
to work with Treasury Department for
No objection
10/15
assignment on part-time basis
John C., designation as special assistant
Kruer,
2/27
examiner
11/28
assistant examiner
Appointment as




1502
2125
237

145

1787
194
762
458
762
762
1172
237
1488
1172
237
762
237
2301
763
1388
458

430
1598
2111
458
2312

FRBank
of New York: (continued)
Staff: (continued)
Kuchler, Charles, Asst. Chief, Accounting Division,
Accounting Department, salary in excess
of maximum approved
Lang, Peter P., Manager, salary approved
Lenz, John, Chief, Coin Division, Cash Dept., salary
in excess of maximum approved
Leonard, William J., Chief, Country Collection Division, Collection Dept., salary in excess
of maximum approved
Lister, G. R., Alt. Asst. FRAgent, salary approved
Logan, Walter S., Vice President, and General Counsel,
designated as representative of Board
for meetings of subcommittee on voluntary
agreement
Salary approved but at less than recommended
No change in previous decision
MacInnes, A. A., Jr., Manager, salary approved
Salary approved
Mack, Paul L., appointment as assistant examiner
Malone, Edward H., appointment as assistant examiner
Marsh, Spencer S., Jr., Manager, salary approved
McLaughlin, Michael J., Manager, salary approved
Mendershausen, Horst, economist, part-time assistance
to UN Secretariat in New York City, no
objection
Services to be made available to President's
Materials Policy Commission, no objection
Menge, Charles J., appointment as assistant examiner
Messer, J. Edward, appointment as assistant examiner
Meyer, Harry J., designation as FRExaminer to examine
foreign branches
Miles, Catherine, salary in excess of maximum approved
Miller, Silas A., Asst. Vice President, salary approved
Mittricker, Franklin F., appointment as examiner
approved, formerly assistant examiner
Montgomery, Hugh, designation as special assistant
examiner
Moore, 0. Ernest, granted leave of absence without pay
to serve United Nations as financial
adviser to Government of Haiti
Morgan, John S., granted leave of absence without pay
to serve as Assistant to Economic Adviser
of UN Relief and Works Agency for Palestine
Refugees in Near East
Muether, H. A., Manager, salary approved
Salary approved
Mulligan, Michael M., designation as special assistant
examiner
Mulligan, Wm. R., designation as special assistant
examiner
Examiner, appointment by Board to examine Bank of
America, N. Y.



174
Pages

7/27
4/10

1639
762

9/13

1930

6/6
12/29

1258
2515

1/3
4/10
6 2
/1
1/25
4/10
5/31
2/2
4/10
4/10

21
763
1388
194
762
1220
237
762
762

4/3

720

10/23
2/2
8/22

2148
237
1795

4/27
5/23
4/10

910
1172
762

8/13

1732

2
/27

458

3/22

643

10/5
1/25
4/10

2070
194
762

4/5

737

11/14

2246

11/26

2301

175
Pages
R-Bank of New York: (continued)
Staff: (continued)
Noa, A. H., Manager, salary approved
Salary approved
Obermayer, Charles J., appointment as assistant
examiner
O'Brien, Helen, salary in excess of maximum approved
O'Connor, Chas., salary in excess of maximum approved
01 Xeefel Gregory, services to be retained by Board
until completion of legal work on Transamerica case
Payment for services and expenses during November
1950 approved
Work at Board to include Regulations W and X,
adjustment in per diem and travel expenses approved
Osterhus, Gustav, Manager, salary approved
Salary approved
Peterson, Franklin E., Manager, salary approved
Phelan, Arthur, Vice President, payment for services
and expenses during November 1950 approved
Extension of leave for work at Board, advice re
need for
Salary approved
Rahe, Richard W., designation as special assistant
examiner
Reynolds, E. K., Alt. Asst. FRAgent, salary approved
Salary approved
Roche, Thomas J., extension of leave for service as
Chief of Gold Section of International
Monetary Fund
Extension of leave without pay to assist International Monetary Fund approved
Retirement system payment approved to permit reinstatement without loss of service upon
return from leave of absence while serving
with International Monetary Fund
George B., designatLon as special assistant
Rodde,
examiner
Appointment as assistant examiner
Roelse, Harold V., Vice President, salary approved
Rosa, Robert V., Acting Manager, Research Dept.,
appointment and salary approved
Rounds, L. R., First Vice President, reappointment to
be approved
Appointment for five-year term and salary approved,
resignation to be after one year
Rouse, Robert G., Vice President, Manager of System
Open Market Account, present at Board
meeting
Salary approved but at less than recommended
Salary, no change in previous decision




1 25
/
4/10

194
762

2/2
5/23
5/23

237
1172
1172

1/12

117

1/22

156

5/31
1/25
4/10
4/10

1224
194
762
762

1/22

156

1/29
4/10

209
762

8/13
1/5
12/29

1732
64
2515

1/15

118

5/17

1104

11/21

2294

2/27
8/13
4/10

458
1732
762

3/30

709

2/13

334

2/26

438

4/26
4/10
6/21

893
763
1388

176
Pages
FRBank of New York: (continued)
Staff: (continued)
Rozell, Walter H., Jr., Manager, attendance at Third
Conference of Experts of Central Banks of
American Continent, in Havana, planned,
3/29
no objection
4/10
approved
Salary
8/13
Saf, Harold L., appointment as assistant examiner
Asst. Vice President, trip to
Sanford, Horace L.,
England, France, and perhaps Spain, no
3/29
objection to
4/10
Salary approved
4/10
Scheffer, Ralph W., Manager, salary approved
Eugene, granted leave of absence without
Schlesinger,
1/18
pay to assist United Nations
5/23
John, salary in excess of maximum approved
Schnaars,
7/3
Seguin, John T., appointment as assistant examiner
Slack, Beekman C., examiner, appointment by Board to
11/26
examine Bank of America, N. Y.
Small, Kenneth E., Manager, Personnel Dept., salary
7/19
approved
Sproul, Allan, President:
Active service death benefits, study by Towers
2/9
firm, reply to letter
Appointment for term of five years and salary
2/26
approved
Credit control devices and supplemental reserve
4/3
plans, letter to Board
1/16
Margin requirements, increase favored
Marine Midland Corporation, telegram re applica12/17
tion for general voting permit
3/29
Possible trip to Europe in 1951
approved subject to
Voluntary agreements, program
1/23
full Committee, advice re
and FRAgent, designation
Stevens, Robert T., Chairman
9/11
approved
designation as special assistant
Stoecker, Walter A.,
12/18
examiner
12/29
FRAgent, salary approved
Stryker, J. V., Asst.
5/23
salary in excess of maximum approved
Swift, James T.,
Vice President, reappointment
TenEyck, Otto W., Asst.
1/25
for five-month period ending May 31, 1951
4/10
until retirement in May 1951
Salary approved
5/2
Salary approved
11/26
Salary approved
Tiebout, Todd G., Asst. General Counsel, salary
4/10
approved
Vice President, designated as repreTreiber, W. F.,
sentative of Board for meetings of sub1/3
committee on voluntary agreements
4/10
Salary approved




705
762
1732

705
762
762
145
1172
1488
2301
1589

313
438
718
126
2426
705
165
1912

2444
2515
1172
194
762
952
2302
762

21
762

177
Pages
}
? Malik of New York: (continued)
Staff: (continued)
Trimble, Rufus J., Asst. General Counsel, salary
4/10
approved
Kathleen, salary in excess of maximum
Turnbull, Mrs.
5/1
approved
Van Houten, Charles N., Asst. Vice President, salary
4/10
approved
5/23
salary in excess of maximum approved
Van Note, Helen,
granted leave with pay to
Von Klemperer, Alfred,
assist Exchange Restrictions Department
of International Monetary Fund in staff
8/22
study
3/30
Thomas O., Manager, salary approved
Waage,
1/25
C., Manager, salary approved
Walton, A.
4/10
Salary approved
4/10
Warner, Walter C., Manager, salary approved
4/10
Wendell, Roy E., Manager, salary approved
4/10
Wessell, Harold M., Manager, salary approved
Williams, John H., Economic Adviser, trip to Paris as
adviser to Organization of European
1/25
Economic Cooperation approved
Salary approved for full—time and part—time serv—
4/10
ices
4/10
Willis, Valentine, Vice President, salary approved
4/10
Wiltse, Reginald B., Vice President, salary approved
Memo re luncheon meeting attended by Chairman Pope
12/14
of Marine Midland Corporation
4/10
Wurts, John H., Asst. Vice President, salary approved
2/2
?Ras-zikZorn, Paul C., appointment as assistant examiner
of Philadelphia:
Banking quarters, modernization program approved subject
11/15
to permit from NPA
11/6
Budget, expenses in excess of estimate for 1951 approved
Examination, copy of report left for information of Chair—
2/14
man and directors, comments requested
Salaries:
12/12
Employees, increase in salary structure approved
Officers, proposed increases, action deferred pending
2/13
clarification of Government order
4/17
Approved
:
Staff
4/17
Aff, Edward A., Asst. Cashier, salary approved
salary
Alderfer, Evan B., Industrial Economist,
12/19
approved
salary
Anderson, Clay J., Financial Economist,
12/19
approved
Officer, salary approved 12/19
Barrie, Hugh, Machine Methods
Benner, Henry, appointment and salary as Assistant
Director of Division of Selective Credit
2/14
Regulation.of Board of Governors




762
948
762
1172

1795
709
194
762
762
762
762

187
763
762
762
2419
762
237

2252
2209
340
2400

334
831
831

2454
2454
2454

339

178
Pages
FRBamk
of Philadelphia: (continued)
Staff: (continued)
Benz, Walter C., designation as special assistant
examiner
Bopp, Karl R., Vice President, salary approved
Braker, Elwood J., Alt. Asst. FRAgent, salary approved
Bucci, Mario A., designation as special assistant
examiner
Burr, Glendon M., Alt. Asst. FRAgent, salary approved
Case, Joseph M., appointment as examiner, formerly
assistant examiner
Catanach, Wallace M., Asst. Vice President, salary
approved
Dash, Norman G., General Auditor, salary approved
Salary as Assistant Vice President approved
Davis, W. J., First Vice President, appointment for
five-year term approved
Reappointment for five-year term and salary
approved
Salary increase, action postponed pending clarification of general wage stabilization
regulation
Salary approved
Delphey, P. H., Jr., designation as special assistant
examiner
Denish, Herbert, designation as special assistant
examiner
Eastburn, David, present at Board meeting
Grigalunas, Stanley J., designation as special assistant examiner
Haas, Ralph E., Asst. Cashier, salary approved
Haffner, Herman B., General Auditor, salary approved
Hetherington, Roy, Asst. Cashier, salary approved
Hilkert, Robert N., Vice President:
Salary approved
Voucher to reimburse FRBank for services and expenses while acting as consultant in
August
Hill, Ernest C., Vice President, salary approved
Keane, Edward H., designation as special assistant
examiner
Kenny, Thomas A., designation as special assistant
examiner
Kim, Paul E., Jr., designation as special assistant
examiner
Lavin, George J.:
Assistant Cashier, salary approved
Assistant Vice President, salary approved
Lowery, John J., designation as special assistant
examiner
Margolf, Harry K., designation as special assistant
examiner




11/30
4/17
12/12

2328
831
2399

9/10
12/12

1899
2399

6/22

1400

4/17
4/17
5/4

831
831
977

1/30

216

2/8

274

2/8
4/17

274
831

9/10

1899

9/10
/
87

1899
1692

11/30
4/17
5/9
4/17

2328
831
1003
831

4/17

831

9/14
4/17

1940
831

11/30

2328

9/10

1899

9/10

1899

4/17
12/19

831
2454

11/30

2328

11/30

2328

179
Pages
PRBank of Philadelphia: (continued)
Staff: (continued)
McCann, Leonard, designation as special assistant
examiner
Robert E., designation as special assistant
McCarthy,
examiner
William G., Vice President and Secretary,
McCready,
salary approved
Francis, designation as special assistant
McGirney,
examiner
John L., designation as special assistant
McKeever,
examiner
Metz, George William, appointment as assistant
examiner
Moran, John D., designation as special assistant examiner
Muntz„ John A., designation as special assistant
examiner
Murray, Fred A., Manager of Plant, salary approved
Murray, John W., designation as special assistant
examiner
Nelson, Henry J., Asst. Cashier, salary approved
Ondeck, Stephen M., appointment as assistant examiner
approved
Poorman, Philip M., Vice President and Cashier, salary
approved
Salary approved
Rehfuss, J. Frank, Asst. FRAgent, salary approved
Rickert, Henry A., Jr., designation as special assistant examiner
Roeder, Harry W., Assistant Cashier, salary approved
Sulzberger, Charles H., Jr., designation as special
assistant examiner
Vergari, James V., Counsel and Assistant Secretary,
salary approved
Whittier, Warren F., Chairman and FRAgent, designation
approved
Wilgus, Richard G., Asst. Vice President and Assistant
Secretary, salary approved
Cashier and Asst. Secretary, salary approved
Williams, Alfred H., President, appointment for fiveyear term approved
Reappointment for five-year term and salary
approved
Salary increase, action postponed pending clarification of general wage stabilization
regulation
Retirement system, agreement covering special payments approved, subject to ruling from
Bureau of Internal Revenue
Salary approved




11/30

2328

9/10

1899

4/17

831

11/30

2328

9/10

1899

7/24

1617

9/10

1899

11/30
12/19

2328
2454

/0
11 3
4/17

2328
831

3/15

597

4/17
5/4
12/12

831
977
2399

11/30
12/19

2328
2454

9/10

1899

4/17

831

9/11

1912

4/17
5/4

831
977

1/30

216

2/8

274

2/8

274

3/19
4/17

614
831

180
Pages
PRBanr of Philadelphia: (continued)
,
Staff: (continued)
Williams, Alfred H., President: (continued)
Retirement payment, execution of special agreement
directed, advice to Chairman Whittier
PRBallit of Richmond:
Banking quarters, outside space to be rented for use of
functions during emergency, if Board's
skeleton staff transferred to, costs to
be submitted to Board
Budget:
Additional expenses for 1951 approved
Expenses in excess of estimate for 1951 approved
Charge off of architects' fees for plans for postponed
improvements at Baltimore Branch approved
Emergency plans, establishment of three additional TWX
machines requested of Telephone Company
Examination, copy of report left for information of Chairman and directors, comments requested
FRnotes:
Specimen sets requested
Allocation of supplemental order requested for
International Bank for Reconstruction and Development,
agreement to act as agent for storage
of microfilm records for
Relocation center for emergency and operation with skeleton staff of Board's affairs, memo
approved
To be used as relocation center for activities of
Board, memo of Mr. Carpenter approved
Salaries:
Employees, increase in salary structure approved
Officers, to be approved when formally submitted
Approved
:
Staff
Armistead, N. L., Vice President, salary approved
Member of committee to study taxation of banks
Barret, Morriss, Jr., Alt. Asst. FRAgent, appointment
and salary approved
Authorization to sign checks drawn on gold certificate fund in case of emergency
approved
Salary
Bohannon, John F., designation as special assistant
examiner
Brock, R. S., Jr., Auditor, salary approved
Burruss, Mrs. Robert P., salary for part-time work
approved
Carr, Frederick Lamont, designation as special assistant examiner
Carr, E. J., authorized to operate interdistrict
settlement fund in event of emergency




6/12

1308

4/17

833

3/8
11/6

526
2210

12/21

2482

5/3

972

3/16

608

8/9
11/6

1720
2210

6/22

1402

4/17

833

9/11

1906

11/15
5/1
5/15

2260
945
1085

5/15
11/14

1086
2247

7/13

1547

9/11
12/28

1907
2511

4/18
5/15

849
1086

2/8

275

8/16

1764

9/11

1907

181
Pages
FR- ank of Richmond: (continued)
13
: (continued)
Staff
Chalkley, Clinton R., present at meeting of Board of
Governors, while assisting on consumer
credit matters
Coleman, E. D., authorized to operate interdistrict
settlement fund in event of emergency
Crump, W. C., authorized to operate interdistrict
settlement fund in event of emergency
Cummings, Bernard L., designation as special assistant examiner
Dodd, James W., Jr., Asst. Cashier, salary approved
Donoho, Murray T., designation as special assistant
examiner
Dunn, Harry E., designation as special assistant examiner
Ellsworth, Jesse H., appointment as examiner approved,
formerly assistant examiner
Farmer, Welford S., designation as special assistant
examiner
Fishburne, Stuart P., designation as special assistant
examiner
Gardenhour, Edgar F., appointment as examiner approved,
bank stock to be disposed of and indebtedness to Virginia Trust Company to be
liquidated
FRExaminer, stock in Nicodemus National Bank,
Hagerstown, Md., requirement for disposal
waived to prevent undue hardship
Harrison, William B., III, designation as special
assistant examiner
Heflin, Aubrey N., Counsel, salary approved
Hylton, Thomas P., designation as special assistant
examiner
Lambert, William F., appointment as assistant examiner
Leach, Hugh, President, appointment for five-year term
and salary approved
Salary approved
Martin, Upton S., Asst. Vice President, salary approved
McCormick, Charles P., FRARent, authorization to sign
checks drawn on gold certificate fund in
emergency
Chairman and FRAgent, designation approved
Mercer, R. W., Vice President and Cashier, salary
approved
Authorized to sign requests re FRnotes and currency in case of emergency
Nosker, John L., Asst. Cashier, salary approved
Nowlan, Joseph M., Asst. Cashier, salary approved
Authorized to operate interdistrict settlement fund
in event of emergency




5/31

1214

9/11

1907

9/11

1907

4/18
5/15

849
1086

9/27

2017

4/18

849

8/10

1726

4/18

849

1/2

11

3/13

572

5/16

1091

4/18
5/15

849
1086

4/18
2/16

849
357

2/16
5/15
5/15

357
1085
1086

9/11
9/11

1907
1912

5/15

1086

9/11
5/15
5/15

1908
1086
1086

9/11

1907

182
Pages
IlBank of Richmond: (continued)
: (continued)
Staff
Nowlan, Joseph M.: (continued)
Authorized to sign requests re FRnotes and currency in case of emergency
Porter, Chester D., Jr., designation as special assistant examiner
Richardson, Straughan S., designation as special
assistant examiner
Shepherd, Robert L., Asst. FRAgent, authorization to
sign checks drawn on gold certificate
fund in emergency
Salary approved
Snead, G. Harold, Chief Examiner, salary approved
Service in Ceylon, request for another man to follow, advice to FRBank of New York
Strathy, C. B., Vice President and Secretary, salary
approved
Authorized to sign requests re FRnotes and currency in case of emergency
Thompson, George E., Jr., Alt. Asst. FRAgent, authorization to sign checks drawn on gold
certificate fund in case of emergency
Salary approved
Wakeham, Wythe B., Asst. Cashier, salary approved
Authorized to sign requests re FRnotes and currency in case of emergency
Walden, John S., Jr., First Vice President, appointment for five-year term and salary
approved, to retire in April 1953
Salary approved
Authorized to sign requests re FRnotes and currency in ease of emergency
Waller, Edward, Jr., Asst. Cashier, salary approved
Authorized to sign requests re FRnotes and currency in case of emergency
Brantley, Vice President, salary approved
Watson,
Wayne, Edward A., Vice President, salary approved
To remain as adviser to Board of Governors for
such time as needed to discuss changes
in examinations policies and procedures
with FRBanks, reimbursement for salary
and travel expenses to be made to FRBank
Voucher to reimburse Bank while acting as Adviser
to Board approved
Williams, Chas. W., Vice President, salary approved
Withers, John J., designation as special assistant
examiner
Yancey, John F., designation as special assistant
examiner




9/11

1908

4/18

849

4/18

849

9/11
12/28
5/15

1907
2511
1086

12/26

2487

5/15

1086

9/11

1908

9/11
12/28
5/15

1907
2511
1086

9/11

1908

2/16
5/15

357
1086

9/11
5/15

1908
1086

9/11
5/15
5/15

1908
1086
1086

5/23

1169

9/14
5/15

1940
1086

4/18

849

4/18

849

183
Pages
FRBank of St. Louis:
Budget, expenses in excess of estimate for 1951 approved
Hospitalization, increase in expenses for, no objection
Salaries, officers, approved
To be approved when formally submitted
Approved
Staff:
Attebery, Olin M., First Vice President, appointment
and salary approved
Appointment and salary approved formerly
Berthold, Harold J., designation as special assistant
examiner
Billen, E. R., Asst. Vice President, salary approved
Salary approved
Boll, Paul W., designation as special assistant examiner
Boro, Daniel R., designation as special assistant
examiner
Christ, J. J., Asst. Vice President, salary approved
Salary approved
Davisson, Walter F., designation as special assistant
examiner
Dearmont, Russell L., FRAgent, designation approved
Debrecht, August E., designation as special assistant
examiner
Deming, Frederick L., Vice President, salary approved
Gales, J. H., Asst. Vice President, salary approved
Gilmore, S. F., Asst. Vice President, salary approved
Hackman, Vernon J., designation as special assistant
examiner
Hall, F. N., Asst. Vice President, salary approved
Salary approved
Haupt, Joseph P., designation as special assistant
examiner
Hirshman, George W., General Auditor, salary approved
Salary approved
Hollocher, G. 0., Asst. Vice President, salary
approved
Salary approved
Hoppe, Edward H., Asst. FRAgent, salary approved
Salary approved
Hornick, John, designation as special assistant examiner
Janz, Alfred R., designation as special assistant
examiner
Johns, Delos C., President, appointment and salary
approved
Appointment and salary approved formerly
Present at Board meeting to discuss consolidation
of Mercantile-Commerce Bank and Trust
Company with Mississippi Valley Trust
Company




11/29
7/16
1/25
5/1
5/15

2323
1552
194
945
1087

1/11
/
1 25

104
195

12/11
1/25
5/15

2395
194
1087

12/11

2395

12/11
1 25
/
5/15

2395
194
1087

12/11
9/11

2395
1912

12/11
5/15
5/15
5/15

2395
1087
1087
1087

12/11
1/25
5/15

2395
194
1087

12/11
1/25
5/15

2395
194
1087

1/25
5/15
12/20
4/19

194
1087
2475
859

12/11

2395

12/11

2395

1/11
1/25

104
195

7/3

1473

184
Pages
nk of St. Louis: (continued)
Staff: (continued)
Johns, Delos C., President: (continued)
Regulation X, amendment proposed to exempt construction of houses to replace those
damaged by flood, views requested
Kaley, Richard O., Alt. Asst. FRAgent, salary approved
Designation as special assistant examiner
Salary approved
Kline, Harold B., Counsel and Asst. Secretary, salary
approved
La Mar, Robert C., designation as special assistant
examiner
Lewis, D. M., Asst. Vice President, salary approved
Salary approved
McCormick, James O., designation as special assistant
examiner
McNorton, Lee W., designation as special assistant
examiner
Mueller, William R., designation as special assistant
examiner
Mulholland, Edward F., designation as special assistant examiner
Newman, Ernest K., designation as special assistant
examiner
011iges, Richard H., designation as special assistant
examiner
Opich, Carl, designation as special assistant examiner
Orr, Alexander P., designation as special assistant
examiner
Peterson, Wm. E., Vice President, salary approved
Sassman, William H., designation as special assistant
examiner
Schott, Edward R., designation as special assistant
examiner
Stead, William H., Vice President, assignment with
Secretary of the Interior, reference to
action before advice to Board
Granted extension of leave on same conditions as
original leave of absence
Stecher, Eugene A., designation as special assistant
examiner
Stein, Weldon A., leave of absence with pay for
assignment with Department of Interior
approved
Strunk, Virgil L., designation as special assistant
examiner
Stumpf, ArdwyneW., designation as special assistant
examiner
Walker, Laurie T., designation as special assistant
examiner




8/17
4/19
12/11
12/20

1774
859
2395
2475

5/15

1087

12/11
/
1 25
5/15

2395
194
1087

12/11

2395

12/11

2395

12/11

2395

12/11

2395

12/11

2395

12/11
12/11

2395
2395

12/11
5/15

2395
1087

12/11

2395

12/11

2395

1/25

188

3/14

583

12/11

2395

1/16

132

12/11

2395

12/11

2395

12/11

2395

185
Pages
FRBunk of St. Louis: (continued)
Staff: (continued)
Weigel, Howard H., Vice President and Secretary,
5/15
salary approved
as special assistant
Witte, Elmer H., designation
12/11
examiner
5/15
President, salary approved
Wotawa, Joseph C., Vice
FRTIn
of San Francisco:
Banking quarters:
Alterations to building, authorization of National
3/7
Production Authority requested for
11/29
estimate for 1951 approved
Budget, expenses in excess of
Bylaws, amendment of Article VII to permit closing head
office and Los Angeles Branch on Satur6/14
days, no objection
Seminar to be held in September, particiCentral Banking
pation of staff of Board in, advice to
6/29
Mr. Earhart
8/6
outside barbecues, advice to Mr. Millard
Regulation WI
Salaries:
Employees, increases in salary structures to be deferred because of recent action of
2/12
Government
2/21
approved
Junior officers,
/1
22
to be reviewed only at regular time
Senior officers,
4/17
approved
Officers,
Officers, no change to be made in policy for Presidents and First Vice Presidents, and
increase for Messrs. Earhart, Mangels,
6/21
and Volberg not approved
Staff:
Aamodt, John N. appointment as examiner approved,
5/8
formerly assistant examiner
4/17
Armstrong, H., General Auditor, salary approved
2/21
Barbonchielli, J. L., Asst. Cashier, salary approved
2/21
Barrett, T. W., Asst. Cashier, salary approved
Claxton, F. R., designation as special assistant
2
/20
examiner
6/6
Alt. Asst. FRAgent, salary approved
12/19
Salary approved
Clerk, Franklyn, appointment as examiner approved, not
to participate in examinations of Bank
of America NT&SA or affiliates until in10/3
debtedness liquidated
Coulam, M. J., designation as special assistant
10/25
examiner
5/23
Deitrick, Sumner, appointment as examiner approved
Dunn, R. C., designation as special assistant examiner 10/25
Earhart, C. E., President, reappointment to be considered at next meeting of Board, suc1/23
cessor to be from outside Bank




1087
2395
1087

511
2323

1341

1463
1690

323
424
424
833

1388

999
833
424
424
407
1259
2453

2043
2157
1172
2157

170

186
Pages
FilBaxik of San Francisco: (continued)
Staff: (continued)
Earhart, C. E., President: (continued)
Appointment for five-year term approved
Reappointment for five-year term and salary
approved, increase to be considered after
clarification of wage stabilization
regulation
Salary increase not approved, no change to be made
in existing policy
R. E., Asst. Vice President, salary approved
Everson,
Harder, Leslie, appointment as examiner approved,
formerly assistant examiner
Hemmings, H. E., Asst. Cashier, salary approved
Herring, F. M., designation as special assistant
examiner
Johnsen, Robert C., designation as special assistant
examiner
Konzen, W. M., designation as special assistant examiner
Mangels, H. N., First Vice President, reappointment to
be considered at next meeting of Board
Appointment for five year term approved
Appointment and salary approved, increase to be
considered after clarification of wage
stabilization regulation
Salary increase not approved, no change to be made
in existing policy
Millard, E. R., Vice President, salary approved
Milliken, R. C., Asst. Cashier, salary approved
Morrice, James T., appointment as assistant examiner
approved
Morrill, R. H. Asst. Vice President, salary approved
OIXane, J. A., General Counsel, salary approved
Parker, G. D., Asst. Cashier, salary approved
Rowe, R. F., designation as special assistant examiner
Sadler, E. J., designation as special assistant
examiner
Searles, H. R., designation as special assistant
examiner
Shaw, Coad C., designation as special assistant examiner approved
Slade, H. F., Vice President, salary approved
Stone, P. M., Asst. FRAgent, salary approved
Salary approved
Swan, E. J., Asst. Vice President, salary approved
Designation as special assistant examiner
Services to be made available to Board as Acting
Assistant Director of Division of Selective Credit Regulation for about six
months, Bank to be reimbursed for salary
and expenses




1/30

216

2/8

277

6/21
2/21

1388
424

5/8
2/21

998
424

9/5

1865

9/4

1860

9/5

1865

1/23
1/30

170
216

2/8

277

6/21
4/17
2/21

1388
833
424

3/21
2/21
4/17
/1
22
9/5

635
424
833
424
1865

9/5

1865

9/5

1865

11/19
4/17

2271
833

6/6
12/19
2/21
3/23

1259
2453
424
655

12/18

2442

187
Pages
FRBank of San Francisco: (continued)
Staff: (continued)
Swan, E. J.: (continued)
Services as Acting Assistant Director of Board's
Division of Selective Credit Regulation
for six-month period, reimbursement to
be made to Bank, advice re
Symms, R. T., Vice President and Cashier, salary
approved
Volberg, W. F., salary, increase not approved, no
change to be made in existing policy
Wheeler, O. P., Vice President, salary approved
Wilbur, Brayton, Chairman and FRAgent, designation
approved
Wilbur, L. A., salary below minimum approved
PRIct
--anks:
Agricultural research activities, material distributed,
Personnel Committee and Mr. Powell to
study matter
Assessments, for expenses of Board:
For last half of 1951
For first half of 1952
Audits, discussion in connection with memo on examinations
Procedures and relationships of auditors to Board of
Directors and to Board's Division of
Examinations discussed
Authority to purchase Government securities directly from
Treasury, extension desired, report to
Bureau of the Budget
Budget for 1951, approved, with request that current expenditures be held to minimum and that
principle be followed in preparation of
1952 budgets
Budgets for 1952, Secretary to place matter on agenda for
discussion as soon after first of October
as possible
Budgets, approved for 1952
Civil defense, cooperation requested by Mr. Caldwell
Contributions:
. Community welfare projects, no change in Board policy
Dividends:
Semiannual payment for first half of 1951 approved
Semiannual payment for last half of 1951 approved
Earnings and expenses for 1950, press statement re, advice
to FRBanks
Employment policies during emergency Period, discussion
at Presidents Conference, topic to be
placed on agenda of Personnel Conference
for further consideration
Examination, directive on scope and procedure in memo of
Mr. Wayne, to be considered at another
meeting




12/26

2485

4/17

833

6/21
4/17

1388
833

9/11
2/2

1912
238

5/10

1012

6 25
/
12/26
4/19

1416
2490
855

5/3

963

12/4

2352

7/19

1582

7/19
12/7
1/2

1584
2378
16

3/7

507

6 25
/
12/21

1416
2481

1 4
/

34

3/9

557

4/19

855

188
Pages
nanks: (continued)
Examinations:
Procedures, revised directive approved, to be discussed by Mr. Wayne at conference of
Chairmen, Presidents, and Auditors of
FRBanks before effective
Mr. Sloan authorized to institute and conduct for 1952
Executive development program, steps to further and plans
for replacement of officers who will
retire, topic for discussion at Presidents Conference
Executive training and development programs, discussion of
plans for, at Presidents Conference
Expenses:
Voluntary credit restraint program, advice to FRBanks
re absorption of incidental items and
travel
FRnotes, printing requirements for 1952, supplemental
order for
Identification cards, letter to officers and directors on
issuing, for use in visits to Board, Bank,
and Branch buildings
Issuance to Chairmen, Presidents and officers of
FRBanks and branches whose names are
listed in FRBulletin, approved
Personnel requested for other assignments, letters of instruction to be reviewed, following discussion of assignments of Messrs.
Williams and Stead
Research functions, discussion of coordination with work
at Board and uniformity of statements at
Banks
Salaries:
Officers, procedure for consideration, exception to
be made at present for officers other than
president and first vice presidents,
FRBanks to be advised
General review of question to be made at special
Board meeting in future
Presidents and First Vice President, increases, question to await clarification of general
wage stabilization regulation
Services
of staff in domestic and international fields, no
change in procedure for handling requests

5/3
12/18

961
2445

9/5

1870

10/4

2056

4/17

829

9/11

1922

8/17

1767

9/27

2024

1/25

188

12/7

2380

1/25

189

4/10

760

1/30

216

6/15

1353

:
Staff

Auditors, employment and salaries, discussion of recommendations from Division of Examinations,
4/19
to be considered further
Employment policy, to be discussed at Presidents Conference, advice to Mr. Peyton re Executive
Order on personnel procedures to be followed by Board




857

189
Pages
RBamks: (continued)
: (continued)
Staff
Executive training and development programs, discussion of plans at Presidents Conference
Reference to discussion at Presidents Conference
and further consideration of, Personnel
Committee to make recommendations
Officers, replacement of retiring, topic for discussion at Presidents Conference
Personnel available for assignment for technical
assistance in foreign area, request for
list of
Physical examinations of prospective employees, to
be paid by Board when made by Board's
doctor
Presidents and First Vice Presidents, reappointment
to be considered at next meeting of Board
Presidents and First Vice Presidents, salaries, policy
not to be changed, advice to FRBanks of
Dallas, New York, and San Francisco
Representatives on subcommittees of Voluntary Credit
Restraint Committee
Palk1le tin:
Assignment of Claims Against Government, Amendment to
Statute, statement to be published in
Branch banking, publication of compilation of State laws
re, to be published in
Common trust funds:
Valuation of nonmarketable U. S. Bonds (S-1289-a),
statement to be published in April issue
Transfer to Fund of United States Bonds (S-1326),
statement to be published in
Consumer credit:
Statements re rental transactions, over-allowances on
trade-ins, disaster credit exemptions, and
exclusion of self-labor to be published in
January issue
Automobile appraisal guides, statement to be published
in February issue
Statements re to be published in March issue
Automobile appraisal guides (W-139), statement to be
published in April issue
Air conditioners (W-144), statement to be published in
Statements re appraisal guides, pre-effective date
balloon notes, and credits over $2,500 or
$5,000 to be published in
Statements to be published in
Amendment to Regulation W, statement to be published in
efense Materials Procurement and Supply, Executive Order
No. 10281, statement to be published in




10/4

2056

10/15

2107

9/5

1870

1/18

142

10/12

2098

1/23

171

6/21

1387

3/9

5/11
12/7

562

1039
2391

4/13

811

5/11

1039

1/16

136

2/12
3/15

326
603

4/13
5/11

811
1039

6/7
7/12
/
8 13

1274
1544
1733

9/6

1880

190
Pages
Rlulletin: (continued)
Defense Mobilization and Production, Executive Orders
Nos. 10193 and 10200, statements to be
published in January issue
Defense Production Acts amendments, statement on provisions to be published in
Delegation of Functions under Defense Production Act,
Executive Order No. 10223 (S-1287-a),
statement to be published in April issue
Deposits in member banks, transfers of time deposits and
presentation of savings accounts passbooks, statements to be published in
January issue
Interest on deposits, six months equal to 180 days, statement to be published in March issue
Interlocking relationships, open-end investment companies
(S-1329), statement to be published in
Legislation:
Extension of Defense Production Act of 1950, statement to be published in
Statement to be published in
Defense Housing Act of 1951, statement to be published
in
Loan guarantees for defense production:
Amendment to form of guarantee agreement, statement to
be published in January issue
Amendment to form of guarantee agreement, statement to
be published in February issue
Amendment to Regulation A (S-1290), and National Bank
Loan Limitations (S-1299), statements to
be published in April issue
Loans to affiliates, purchase of affiliate's note, statemerit to be published in
Margin requirements, amendment to Regulation T1 statement
to be published in
Open-end investment companies, ruling to be published in
Real estate credit:
Amended Regulation X, maximum maturity, and real
estate brokers, statements to be published in February issue
Statements to be published in March issue
Amendments to Regulation X and Participating Share in
Cooperative Development (X-40), statements to be published in April issue
to Regulation X and newspaper printing plant
Amendment
(X-47), statements to be published in
Statements re privately owned public warehouse, church
unit, value of lot and residence, and
short-term construction credits to be
published in
Determination of Value of Residential Property (X-56),
statement to be published in




1/16

136

9/12

1927

4/13

811

1/16

136

3/15

603

6/7

1274

7/12
8/13

1544
1733

9/10

1903

1/16

136

2/12

326

4/13

811

8/13

1733

9/10
5/14

1903
1047

2/12
3/15

326
603

4/13

811

5/11

1039

/
67

1274

7/12

1544

191
Pages
FRBil

lletin: (continued)
Real estate credit: (continued)
Statements re dining cars, unavoidable delay in credit
extension, and casualty exemption for
8/13
tenants to be published in
and Clinics,
Amendment to Regulation X, Medical Centers
statements to be published in December
12/7
issue
y
Regulations T and U, amended supplements and introductor
statement to be published in January issue 1/23
12/28
Regulation U, interpretation to be published in
Regulation W:
Amendment No. 3 and statement re to be published in
5/17
May issue
of add-on sale
Refund of finance charges at time
9/6
(W-159), statement to be published in
9/6
Regulation X, amendment to, statement to be published in
Reserves:
Member banks, revision of Regulation D Supplement,
statement to be published in January issue 1/16
Classification of reserve cities, statement to be pub3/15
lished in March issue
(6-1376), statement to be
Cash collateral accounts
9/6
published in
s in Critical Defense HousResidential credit restriction
ing Areas, Executive Order No. 10296,
statement to be published in November
11/6
issue
statements re amended
Residential real estate credit,
Regulation 11 loan values computed on
family unit basis, and Commodity Credit
Corporation loans to be published in
1/16
January issue
Rules of Procedure, amendments, statement to be published
7/12
in
campaign, advertisement to appear on back of
Savings bond
August issue and article to be in Sep8/16
tember issue
down payment, statement re provisions of
Trade-ins as
Defense Production Act amendments and of
9/12
Regulation W to be published in
Trust powers of national banks, amendments to Regulation
F, statement to be published in February
2/12
issue
of Nonmarketable Direct Obligations of United
Valuation
States in Common Trust Funds, statement
3/21
to be published in, advice to FRBanks
Fed
eral Reserve Loose-Leaf Service:
5/14
pb_ Open-end investment companies, ruling to be published in
- 40tes
' :
Amendment to Section 16 of.FRAct proposed to permit FRBanks
to pay out without penalty notes issued by
4/12
other FRBanks



1733

2391
173
2514

1116
1880
1880

136
603
1880

2211

136
1544

1762

1927

326

639
1047

793

192
Pages
notes: (continued)
Authority for FRBank to pay out notes of another FRBank,
legislation to be proposed later
Bartz, Charles H., FRExaminer, to participate in assignment of committee of Bureau of Engraving
and Printing for removal of material to
Fort Knox, Ky., depository
Dies, rolls, and plates to be removed to Fort Knox, Ky.,
depository, Mr. Bartz designated as
representative on committee for responsibility of
Emergency accumulation, advice to FRBanks re retention of
unfit currency
Emergency plans, authorization for officers of FRBank of
Richmond to sign requests for delivery,
advice to Bureau of Engraving and Printing and Comptroller of the Currency
PRBank of Atlanta:
Supplemental order for printing
Allocation of supplemental order requested for
FRBank of Boston, supplemental order for printing
FRBank of Chicago:
Supplemental order for printing
Allocation of supplemental order requested for
PRBank of Cleveland:
Supplemental order for printing
Allocation of supplemental order requested for
FRBank of Kansas City:
Supplemental order for printing
Allocation of supplemental order requested for
FRBank of Minneapolis, supplemental order for printing
FRBank of New York, supplemental order for printing
FRBank of Richmond, allocation of supplemental order requested for
PRBanks, printing requirements for 1952, supplemental
order for
Fitness, suggestion that FRBanks adhere to lower standard
in sorting notes
Port Knox, Ky., transfer of vital material from Bureau of
Engraving and Printing to U. S. Depository, Mr. Bartz to be available for
further service on committee
Interest payment to Treasury:
Establishment of rate for period ending December 31,
1950, approved, advice to FRBanks
Reply to Mr. Walter E. Spahr re action of Board
Establishment of rate for period ending March 31,
1951, advice to FRBanks
Question of reopening existing arrangement, advice to
FRBanks
Establishment of rate for period of preceding three
months, advice to FRBanks
Establishment of rate for preceding three months,
advice to FRBanks



1/9

82

5/3

971

3/29

706

2/9

312

9/11

1908

2/1
12/13
2/1

234
2410
234

2/1

234

11/13

2242

2/1
12/26

234
2487

2/1
10/19
2/1
2/1

234
2138
234
234

11/6

2210

9/11

1922

3/20

633

6/6

1259

12
/
3/29

13
706

4/27

901

6/13

1325

7/26

1631

10/26

2175

193
Pages
Flblctes: (continued)
Legislation, provision in bill on capital requirements for
membership, discussion at Presidents Con5/18
ference
Legislation to remove requirements re return by one FRBank
of FRnotes received by it that are issued
by another FRBank„ comments of FRBanks requested for report on legislative proposals
11/2
for 1952
Paying out by FRBanks, legislation to eliminate require12/4
ment, advice to Bureau of the Budget
Printing requirements for 1952, order placed with Bureau
6/21
of Engraving and Printing
Requisition of stocks of unissued for shipment to FRBanks
2/19
and branches, advice to FRBanks
work
Reserve stocks of currency, advice to Mr. Earhart re
of Bureau of Engraving and Printing and
3/20
status of
Bureau of Engraving and PrintReserve stock in process at
ing, disposition of amount paid for 1930
stock to be made, views of FRBanks re
5/10
method requested
Reserve stock at Bureau of Engraving and Printing, refund
for establishing, method of adjustment
5/28
approved, advice to Treasury Department
Specimen sets requested by FRBanks of Richmond and Dallas
and Board of Governors, advice to Bureau
8/9
of Engraving and Printing
Specimen sets requested by Treasury for education of public
in distinguishing between counterfeit and
legitimate currency, advice to Bureau of
12 18
Engraving and Printing
/
?1 'stem:
8 1139 to change laws applicable to regulatory agencies
.
of Government, report sent to Senator
McClellan and Representative Dawson
4/30
Training programs for personnel, FRBank representatives to
meet with Messrs. Norton and Allen for
discussion, Personnel Committee to con10/26
tinue to study matter
4der—
al Safety Council, designation of Messrs. Bethea and
1/31
Kelleher as representatives for
Pecier
al Security Agency, Regulations Wand X, enforcement programs, information to be furnished to
FRBanks, request sent to Mr. Orchard
/
45
' Trade Commission:
'
1 411
Regulation WI suggestion of Mr. Vardaman that enforcement
be assigned to
12/4
Voluntary Credit Restraint Program:
Copy of Program to be submitted to, for comments
1/23
2/5
to Chairman, copy sent to Mr. Sproul
Letter
2/7
Advice to FRBanks




1128

2203

2353
1389

379
633

1022

1198

1720

2447

917

2166
226

742

2341
165
251
266

194
Pages
Federal Trade Commission: (continued)
Voluntary Credit Restraint Program: (continued)
Program and Request resubmitted to Chairman Mead for
approval
Amendment to program re membership of Federal Reserve
representatives on subcommittees, advice
to
Copy of Request and Finding submitted to Chairman Mead
Amendments approved, copies of new Request sent to
Attorney General and Mr. Mead for approval
As amended, finding, and Request approved, advice to
Mr. Mead
Pees;
Witness fees for Regulation W hearing for Fifth Avenue
Motors Inc., Columbus, Ohio, and similar
cases approved
Witness, amendment to Rules of Procedure re approved
Fe
ruso, Senator Homer:
Regulation W, discrimination against people in lower income groups in purchase of automobiles
claimed by Mr. Payne, advice to
Letter from Mr. Bradford re leasing of automobiles
by Automobile Leasing Corporation of
Detroit
Copy of letter to Mr. Bradford sent to
Proposal of Mr. H. W. Lundy for further relaxation re
automobiles
Regulation X, call to Chairman Martin re relaxation of
terms
-...Lary powers:
,
Aurora National Bank, Aurora, Ill., application approved
Britton & Koontz National Bank in Natchez, Miss., surrender
approved
Burlington National Bank, Burlington, Wis., application
approved
Central National Bank of Mattoon, Illinois, application
approved
Citizens National Bank in Abilene, Texas, application
approved
Citizens National Bank of Lubbock, Texas, application
approved
City Bank, Detroit, Michigan, application to act in several agency capacities approved
of Oregon, Hillsboro, Oregon, to exercise
Commercial Bank
charter fiduciary powers, acquisition of
powers of Commercial National Bank of
Hillsboro subject to laws of State
Dothan Bank and Trust Company, Dothan, Alabama, granted
permission to act as Fiscal Agent for
Housing Authority of City of Dothan
Edwards National Bank, Edwards, New York, surrender
approved




2/16

363

/
3 5
3/9

485
544

/
4 5

732

4/20

871

1/12
62
/8

117
1453

4/12

798

8/8
8/24

1707
1821

10/15

2112

7/3

1485

3/16

607

2/6

262

8/21

1788

4/4

726

3/12

566

1/22

157

/7
62

1440

12/7

2385

9/11

1918

1/15

118

195
Pages
Fiduciary powers: (continued)
Farmers State Bank, Brookston, Indiana, application
approved
Fidelity-Philadelphia Trust Company, Philadelphia, Pa.,
services to small banks and trust
companies in handling common trust funds,
not prohibited by Regulation F
First National Bank of Clarksville, Tenn., supplementary
application approved
First National Bank of Corbin, Kentucky, application
approved
First National Bank in Fort Lauderdale, Florida, application approved
First National Bank of Hutchinson, Kansas, supplemental
application approved
First National Bank of Kenosha, Wisconsin, application
approved
First National Bank of Negaunee, Michigan, supplemental
application approved
First National Bank of Palestine, Texas, application
approved
First National Bank of Petoskey, Michigan, surrender
approved
First National Bank of South Carolina of Columbia, S. C.,
application withdrawn
Jeff Davis Bank and Trust Company, Jennings, La., no
objection to acting as joint trustee in
matter with Calcasieu-Marine National
Bank of Lake Charles, La.
Jefferson County National Bank of Watertown, New York,
surrender approved
Laredo National Bank, Laredo, Texas, application approved
Mimbres Valley Bank, Deming, New Mexico, to continue to
act as Trustee under Agreement of an
issue of $17,000 par value Farm Revenue
Bonds of Deming Municipal Board of
Education
National Bank of Pittsburg, Kansas, application approved
National banks, amendments to Regulation F, statement to
be published in FRBulletin
National bank with trust powers, authorization to act as
agent for rental or sale of real estate,
inquiry from Frost National Bank, San
Antonio, Texas
Ouachita National Bank in Monroe, Louisiana, application
approved
Parker Bank & Trust Company, Cullman, Ala., application
to act as Trustee under indenture to be
executed by Cullman Improvement Authority
to secure bond issue approved
Peoples Bank & Trust Company, Selma, Ala., application
approved




5/17

1104

1/23

174

6/27

1438

8/21

1788

3/15

601

7/18

1569

10/12

2094

7/17

1563

10/10

2084

3/1

472

11/16

2267

10/12

2095

10/30
3/22

2188
645

/
87
4/4

1701
725

2/12

326

2/14

341

9/19

1965

/7
62

1439

2/2

240

196
Pages
Fiduciary powers: (continued)
Plymouth National Bank, Plymouth, Mass., supplemental
11/26
application approved
s for holding
St. Louis national banks, trust arrangement
bank stock, opinion of Mr. Vardaman re
creation requiring approval of Comptrol7/3
ler of the Currency
Southern Commercial and Savings Bank, St. Louis, Mo.,
granted permission to act as escrow
agent and as agent or broker in sale of
3/30
Insurance
3/19
State Bank of Nappanee, Indiana, application approved
Union Bank and Trust Company, Delphi, Indiana, applica6/27
tion approved
Iowa,
Union Bank and Trust Company, Strawberry Point,
8/7
application approved
l
Victoria National Bank, Victoria, Texas, supplementa
3/21
application approved
Jersey, applicaWoodbridge National Bank, Woodbridge, New
10/12
tion approved
echter, Frederick C., Jr., Regulation X, Esso Pennsylvania
Lease Trust indenture considered firm
11/5
commitment under section 6(b)
Files:
3/23
Board of Governors, recordak equipment, purchase approved
on those
Loyalty Board, letter to Representative Busbey
12/10
having access to
11.14
-0 systems:
1g
FRBank of Atlanta, Mrs. Pilger authorized to train em11/6
ployee and travel expenses approved
s al agency operations:
FRBank of New York, agreement with International Bank
for Reconstruction and Development
approved in form of proposed Supple2/26
ment No. 1
for Reconstruction
Agreement with International Bank
and Development approved in form of
9/7
proposed Supplement No. 2
claims for reimburseFRBanks for Department of Commerce,
ment of expenses to be sent to Accounting
7/11
Officer, advice to FRBanks
Finance Agency,
New Orleans Branch, for Housing and Home
Board has no objection to contract sub3/2
mitted by Acting Secretary of Treasury
3/12
suggested by
, 'Awl, J. Emmett, Regulation W, changes
pi
"od disaster:
Regulation X, amendment proposed re, views of Messrs.
8/17
Leedy and Johns requested
Plo-,
meeting of Washington
'u relief, report of Mr. Riefler on
Emergency Committee on, and report of
/4
81
Mr. Howse on program




2302

1485

710
615
1438
1702
636
2094

2205
666

2393
2209

444
1887

1528

478
569

1774

1736

197
Pages
:
Floods
Kansas and other States, disaster area designation by
FRBailks of Kansas City and St. Louis,
advice to Congressman Scrivner
Loans for assistance to business firms in Kansas and
Missouri, discussion of possibilities
Middle West, relief for and restoration of general economy,
letter in reply to memo of Mr. Wilson
approved
Foley, Raymond M•2 Regulation X, statement at Board meeting in
favor of relaxation of terms
Ford, Gerald R. Jr., Regulation X, amendments made necessary
,
by section 602 of Defense Housing and
Community Facilities and Services Act
of 1951, advice to
F()x.
eign accounts:
Banque Nationale Suisse, operation on books of FRBank of
New York in event of occupation of
Switzerland, Board to discuss with State
Department if desired
Central Bank of Ceylon, opening by FRBank of New York
approved
De Nederlandsche Bank N. V., establishment of joint account for use in event of possible invasion of Netherlands, Board to cooperate,
advice to FRBank of New York
De Nederlandsche Bank, N. V., and Trustfonds Nederlandsche
Bank, opening of joint account at FRBank
of New York approved, to be operated in
event of invasion of Netherlands
Opening of joint account designated Nederlandsche Bank
by FRBank of New York
of account by FRBank of New York approved
Opening
Government of Japan, opening of account with FRBank of New
York as agent for SCAP, negotiations to
be made with Messrs. Allison and Diehl
of Iraq, opening of account by FRBank of New
National Bank
York approved
,
Por s.
'lgn banking corporations:
Bank of America, New York, N. Y.:
Condition report requested
Condition report, call as of June 30
Establishment of branch in Duesseldorf, Federal Republic of Germany, approved
copies of report sent to Chairman Gock,
Examination,
advice re recommendations and comments
requested
Examination, assessment of charges approved for
Report of examination, acknowledgment of letter re and
information concerning future examinations
Examination of, appointment of examiners to participate
in




7/26

1631

7/18

1565

7/24

1611

/
89

1714

9/19

1968

4/5

737

2/2

239

1
3/ 4

583

4/23

873

8/23
12/21

1805
2484

1/29

209

5/7

986

1/9
7/2

89
1468

6/1

1227

3/16
4/27

608
909

5/25

1185

11/26

2301

198
Pages
Foreign banking corporations: (continued)
Bankers Company of New York, N. Y., condition report requested
Condition report, call as of June 30
Chase Bank, New York, N. Y.:
Condition report requested
Condition report, call as of June 30
Hong Kong, discontinuance and liquidation of branch,
approval of Board not required for
Purchase of stock in corporation to be organized in
Brazil with power to deal in securities
in Brazil, request under consideration by
Board
Board to approve application subject to certain
conditions
Further information requested before consideration
of application
Application to purchase stock in Brazilian corporation, approved, advice to Mr. Aldrich
Paris branch, examination procedure approved
Examination of, copies of report sent to
Condition reports, request for
Call as of June 30
Examinations, costs approved
First of Boston International Corporation, New York, N. Y.,
condition report requested
Condition report, call as of June 30
International Banking Corporation, New York, N. Y.:
Condition report requested
Condition report, call as of June 30
London and Paris branches, examination procedure
approved
Examination, copies of reports sent to
Morgan & Cie. Incorporated, New York, N. Y.:
Condition report requested
Condition report, call as of June 30
Paris branch, examination procedure approved
Examination of, copies of report sent to FRBank of
New York for transmittal
Po .
lgn banks:
Banco de Guatemala, loan by FRBank of New York approved
Bank of Canada, staff members to visit to obtain information re consumer credit regulation in
Canada
Bank of Montreal, Canada, branch in Chicago, Ill., applicability of Banking Act of 1933, advice
requested from FRBank of Chicago
Branch in Chicago, possible violation of Sec. 21 of
Banking Act of 1933
Chicago Branch, violation of section 21 of Banking Act
of 1933, suit filed by Mr. Soble against,
further advice to Attorney General




1/9
7/2

89
1468

1/9
7/2

89
1468

1/5

65

1/11

108

4/18

850

10/19

2139

11/13
4/27
11/23
1/9
7/2
4/27

2226
910
2299
88
1468
909

1/9
7/2

89
1468

1/9
7/2

89
1468

4/27
11/28

910
2314

1/9
7/2
4/27

89
1468
910

10/24

2154

10/5

2070

3/8

522

5/14

1046

62
/7

1439

12/28

2512

199
Pages
F°reign banks: (continued)
Bank of Taiwan (Formosa), Mr. Morrill recommended as
adviser to Chinese Ministry of Finance
re banking operations
Banque Centrale de la Republique de Turquie, loan by
FRBank of New York approved
Central Bank of Ceylon, request for services of adviser
on problems of commercial bank examination
and supervision, advice to FRBank of New
York
De Nederlandsche Bank, N. V. and Trustfonds Nederlandsche
Bank, opening of joint account designated
Nederlandsche Bank by FRBank of New York
Union Bank of Burma, Rangoon, Burma:
Fitchen, Paul R., FRBank of New York, granted leave
without pay to serve as financial adviser
to
For:
v-Lgn exchange control:
Records at FRBank of New York re program, list submitted to
National Archives for destruction
PO ^•
r lgn
' relationships of FRSystem:
Central Bank of Ceylon, request for services of adviser on
problems of commercial bank examination
and supervision, advice to FRBank of New
York
Dembitz, Lewis N., loan of services to State Department,
advice re authorization and arrangements
for trip to London
Evans, R. M., trip to Rome to attend meeting of World Food
and Agriculture Organization of UN and to
tngland approved
Trip to Europe, statement of plans for
Ezamining mission, procedure for examination of foreign
branches approved
FRBank of New York, program for 1951, no objection to plans
Fitchen, Paul R., FRBank of New York, granted leave without
pay to serve as financial adviser to Union
Bank of Burma, Rangoon, Burma
F
ormosa, Mr. Morrill recommended as adviser to Chinese
Ministry of Finance re banking operations
•
in, advice to ECA
Fourth Meeting of Consultation of Ministers of Foreign
Affairs of American States, meeting of
technical experts from Latin American
Republics, services of Messrs. Thomas
and Grove to be available for
Gl
aessner, Philip J., granted leave without pay for one
year to become Economic Officer on Brazil—
United States Commission for Economic
Development
Greece, mission to, Mr. Dillistin to come to Washington to
discuss travel expenses approved from
Patterson, N. J., to Washington



5/1

942

8/24

1819

12/26

2487

8/23

1805

6/20

1380

7/27

1640

12/26

2487

/6
1 2

202

8/14
9/20

1737
1976

4/27
3/29

910
705

6/20

1380

5/1

934

7/9

1509

8/21

1787

6/4

1234

200
Pages
F°reign relationships of FRSystem: (continued)
Grove, David L., mission to Paraguay, return by Buenos
A res and Montevideo approved
advice to
Authorized,
International Conferences, Board representation at, advice
to State Department
Iraq, mission to, leave with pay granted to Miroslav A.
Kriz, FRBank of New York, to serve on
Katz, Samuel I., trip to London to study domestic financial
situation, advice re expenses
Korea, Mr. Bloomfield of FRBank of New York granted leave
of absence to assist in banking and monetary reconstruction of South Korea
Kriz, Miroslav A., FRBank of New York, granted further
leave of absence to complete assignment
with International Bank
Marget, Arthur W., to represent Board at annual.meeting of
Bank for International Settlements in
Basle, Switzerland
Trip to Europe and attendance at Annual General Meeting
of Bank for International Settlements,
letter of authorization
Report on trip to Europe, attendance at annual meeting
of Bank for International Settlements and
visits to central banks
Missions, procedures in staffing and staff review of recommendations of, Board members to see
documents of staff members re work in
Missions and requests for technical assistance, report by
Mr. Dembitz on
Missions, requests submitted to Board for, procedure
stated by Mr. Szymczak, Mr. Vardaman
opposed to
Morgan, John S., FRBank of New York, granted leave without
pay to serve as Assistant to Economic
Adviser of UN Relief and Works Agency for
Palestine Refugees in Near East
Nicaragua, George Garvy of FRBank of New York granted
leave with pay to work with International
Bank in assisting Government on program
Pakistan, services of Mr. Rice of FRBank of Dallas in connection with, arrangement to be approved
for one year, advice to State Department
araguayan mission approved for Mr. Olson, Mr. Grove to
assist if necessary
Proposed terms and condition, advice to Sr. R. Mendez
Paiva, Minister of Finance
Advice to Mr. Olson re arrangements and travel expenses
Assignment of Mr. Grove approved
Letter to Mr. Grove re assignment and expenses
Conclusion of assignment of Mr. Olson and stopovers en
route to Washington approved




4
/
5 1

i
0
19 t

/7
62

1444

2/23

430

/
14

31

9/26

2007

7/20

1598

5/14

1041

5/22

1156

8/14

1735

3/20

625

4/5

728

4/5

729

10/5

2070

10/17

2125

9/20

1976

3/20

623

3/22
3/28
4/11
4/17

643
690
787
838

6/12

1313

201
Pages
Pc)reiga relationships of FRSystam: (continued)
Paraguayan mission: (continued)
Report of Messrs. Grove and Olson on
9/4
Procedure for sending representatives outside of Board
circles for contact, to be on docket for
7/26
meeting of August 7, 1951
Puerto Rico, mission to be directed by Mr. Leonard, advice
7/26
to Governor Mann
Branch of National City Bank of New York, use of
armored trucks by, Board's delegation to
develop further information, advice to
7/31
Comptroller of the Currency
To consist of Messrs. Leonard, Solomon, Koch, and
9/17
Crosse
Authorization to Messrs. Leonard, Solomon, and Koch
10/13
for trip and expenses
Reimbursement to members of study group to cover cer11/20
tain items approved
Assumption of certain expenses of Mr. Crosse by FRBank
11 4
/6
of New York approved
Requests for technical assistance in foreign area, information re personnel for future assignments requested again from FRBanks of
Boston, Cleveland, Atlanta, Kansas City,
1/18
Dallas, and San Francisco
Question of referring to commercial banks raised by
4/5
Mr. Vardaman
Requests for personnel for special assignments in domestic
and international fields, no change to be
made in instructions to FRBanks re advising Board, and present Board procedure
6/15
for consideration to continue
Roche, Thomas J., FRBank of New York, request for extension of leave without pay to assist
5/17
International Monetary Fund approved
Rozell, Walter H., Jr., attendance at Third Conference of
Experts of Central Banks of American
3/29
Continent, in Havana, planned
Sanford, Horace L., FRBank of New York, trip to England,
3/29
France, and perhaps Spain planned
3/29
Sproul, Allan, possible trip to Europe in 1951
Third meeting of Technicians of Central Banks of American
Continent, Federal Reserve delegation to
5/25
attend, advice to Mr. Pazos
Williams, John H., to spend four weeks in Paris as adviser
to Organization of European Economic
1/25
Cooperation
Pols,
'Ign Service Economic Reporting, report on survey by Bureau
of the Budget, Board to cooperate in
2/13
adoption of proposed improvements




1858

1626
1625

1662
1945
2134
2291
2302

142
729

1353

1104

705
705
705

1185

187

336

202
Pages
Formosa (Taiwan):
Morrill, Chester, adviser to Chinese Ministry of Finance
re banking operations in, recommendation to ECA
Forms:
Budget Bureau No. 55-R183, for collection of data on commercial and industrial loans for voluntary credit restraint program
Condition reports, addition of memo items to Schedule A
of national bank call report forms, inclusion in State member bank form to be
considered further
Guarantee agreement, changes in standard form, views of
Departments of Army, Navy, Commerce,
Agriculture, and Interior, General Services Administration, and Atomic Energy
Commission requested
Regulation W, Statement of Borrower, copy printed by S. C.
Toof and Company, Memphis, Tenn., not in
full compliance with section 4(d), advice
to FRBank of Philadelphia
Regulation X:
Enforcement report form, copies sent to FRBanks for
comments
Registration certificate, form and suggestions for
editing, coding, and mechanical processing
of information sent to FRBanks
Statement of Borrower under Regulation X, revision to be
made
Revised copies sent to FRBanks and branches
Statement of Borrower with respect to Real Estate Construction Credit, copies sent to FRBanks
T-1
(S), T-A(S), T-3(A), and T-8, 9, 10 and 11, revised
form of report of examination of trust
departments, copies sent to FRBanks
105, 105b, 105e, and 105e-1, condition reports of State
member banks and affiliates, copies to be
sent to FRBanks for next call
105, condition reports of State member banks, draft for
end-of-year call sent to Bureau of the
Budget
105, 105b, 105e, and 105e-1, condition reports of State
member banks; sent to FRBanks
Copies sent to FRBanks for next call
107,
earnings and dividends reports of State member banks,
copies sent to FRBanks
107b, earnings and dividends, forms and instructions sent
to FRBanks for semiannual report
220 220a, and 220b, condition reports of affiliates:
,
Forms for next call, copies to be sent to FRBanks
Sent to FRBanks
Forms for next call sent to FRBanks




5/1

942

3/21

642

6/4

1236

4/30

921

6 11
/

1287

4/17

841

6/1

1230

1/18
1 25
/

147
199

2/14

341

3/7

515

2/14

342

10/10

2085

10/12
12/3

2096
2333

11/30

2328

5/31

1220

2/14
10/12
12/3

342
2097
2333

203
Pages
Forms: (continued)
269, registration statement under Regulation .X
416a, collection of statistics on commercial and industrial
loans, advice to FRBanks
Weekly reports of changes, information re outstanding
commitnents requested
437, annual reports of holding company affiliates, advice
to FRBanks re 1951 report
566, Regulation X enforcement reports, copies and instructions sent to FRBanks
577 and 579, guaranteed loan program, copies and instructions sent to FRBanks
577, V-loan statistics, number of employees of borrowers
to be shown on, advice to FRBanks
579, guaranteed loans under Regulation V to be submitted
on, advice to FRBanks
Revised forms and instructions sent to FRBanks
To be submitted to Department of Defense earlier than
at present
635, amount of loans of country member banks in places with
population under 15,000
Regulation X, application to existing houses,
Forsyth, W.
1i"
reply to letter
Port Knox,
transfer of material from Bureau of Engraving
Ky.,
and Printing to U. S. Depository, report
on
Fre
ehling, Norman, Regulation T, inquiry re payment of interest or dividends from special subscription account under section 4(h)
e'man, Gaylord A., Jr.:
Capital of banks, determination of adequate, advice re
System practice
Adequacy of capital stock, proposed report of subcommittee
of Illinois Bankers Association, suggestions sent to
Frost, T c., deposit maturing 180 days after its date, no
.
objection to payment of interest at rate
1 2
not exceeding 2- / per cent, advice to

5/3

966

5/1

949

5/
14

1044

12/20

2476

6 13
/

1335

3/12

568

9/7

1888

2/1
2 23
/

231
433

6 12
/

1321

4/10

776

2/9

316

6/6

1259

7/23

1604

5/2

954

10/9

2079

2/20

408

2/21

425

11/28

2318

4/26

899

IIGII

kthin s,
,

E. C., Regulation W, investigation of Arkansas Home
Building and Repairing Company to be
conducted by FRBank of St. Louis, reply
re request of pir. J. M. Scoggins
Ge4IT1 Construction Company, leasing of housing in Wheaton,
Md., by, plan subject to Regulation X,
advice to Mr. Hornstein
Genc
,
' Accounting Office:
ral
13lack, Allan M., Vice President at FRBank of Chicago,
consultant to, no objection to arrangement for services and fees




204
Pages
General Construction Corporation, St. Petersburg, Florida,
reply on handling of industrial loan
application by FR2ank of Atlanta
General Petroleum Corporation, written agreement with Bank of
America, applicability of section 6(b),
as amended, of Regulation X, advice to
FRBank of San Francisco
General
Services Administration:
Civil Defense Organization, Messrs. Bethea and Kelleher
authorized to act in local matters,
advice to
Guarantee agreement, interpretation in proposed letter to
FRBanks, views requested
Guarantee fees on V-loans, revised schedule suggested by
Mr. Larson, comments of guaranteeing
agencies to be requested before reply to
Machine tool industry, financing, advice to FRBanks re
assistance from
V-loan program:
Comptroller's Order No. 50 re policies and procedures,
copy sent to FRBanks
Revised schedule of fees for construction of industrial facilities, adoption not approved,
advice to Mr. Larson
Geo
rge, Walter F., Regulation X, application to repairs for
tobacco warehouse of Mrs. Charles
Talmadge
Germany:
Dollar bonds held in United States, participation of
FRBanks in validation procedure
Ger
sten, Albert, Regulation X:
Suggestions re, reply concerning means of inflationary
restraint
Ge Status of Whittier College Heights development
sell, Gerhard, Transamerica proceeding, order of oral argument at Board, advice re procedure
Eccles, Marriner S., presentation of desk chair and mantel
clock upon resignation
Qille„
"e, Guy M., lending activities of Government agencies
and purchase of savings bonds, statements
of Mr. Groszkruger
Glas
gc w, Tom, Regulation W, use of trade-ins as part of down
'
payment on appliances, letter to Senator
Smith
Gliop
Zsberg, Meyer of Bagley Electric Company:
c„ ' gulation W, application to television and appliance sales
:3 Ie
15 &
Ritchie:
'
l egulation X, inquiry re applicability to street paving
done by cities under Article 1105b,
Vernon's Texas Civil Statutes




8/3

1682

3/26

672

7/20

1598

3/12

567

6/28

1/46

9/24

1990

4/30

922

7/31

1663

4/27

905

5/9

1004

9/19
11/7

1969
2213

11 3
/0

2329

7/10

1524

5/28

1205

7/9

1513

4/11

780

3/12

571

205
Pages
Gold:
H.R. 324, Gold Standard Act of 1949, circular questionnaire of Representative Buffett soliciting comments, no official reply to be
made
United States policies, memo from Mr. Marget, consideration postponed until review by Mr.
Vardaman
United States policy, modification of policy of International Monetary Fund re gold transacticns
at premium prices, question of domestic
gold regulations and price referred to
Messrs. Martin and Szymczak with power to
act
Gold
certificate fund:
Emergency plans, Messrs. McCormick, Shepherd, Barret, and
Thompson authorized to sign checks drawn
on, advice to Treasurer of the U. S.
GO0
denow, Earle, Regulation X, advice re purpose and issuance
GOrsent to Senator McMahon for reply to
W. A., Regulation W, problem of Government employees
In obtaining automobiles, reply to
Congressman King
GOsl
in, B. G., Regulation W, letter to Congressman Shafer on
amount and timing of instalment payments
Time for making down payment for home improvements,
advice to
G %?11er, C. J., Regulation X, protest re
G
.
trnment fiscal position, series of Treasury slides presented at Board meeting
ernment lending agencies, activities in localities where
banks have curtailed loans, letter to
Senator Gillette in reply to Mr.
Groszkruger
Gove'nment securities:
Authority of FRBanks to purchase directly from Treasury,
extension desired, report to Bureau of
the Budget
Charge-off of unamortized premium on nonmarketable
2-3/4
per cent bonds, investment series
B-1975-80, views of FRBanks requested
Action deferred, not to be made in second quarter of
year, FRBanks to be advised
Action deferred, pending further study
No further action to be taken unless consideration desired at Presidents Conference, advice
to FRBanks
Decline in prices, effect on market value of System holdings in open market account, matter of
handling depreciation to be studied by
Messrs. Powell and Norton




4/5

729

11 13
/

2230

11/15

2256

9/11

1907

10/16

2120

1/5

66

10/19

2141

11/8
8/2

2219
1677

4/26

893

5/28

1205

12/4

2352

6/13

1325

62
/8
7/3

1450
1478

8/9

1721

3/27

680

206
Pages
G
overnment securities: (continued)
Exchange of $1 billion of 2-3/4 per cent Treasury bonds,
Investment Series B-1975-80, in System
open market account for like amount of
1-1/2 per cent Treasury notes due April
1, 1956, statement to be included in
7/12
weekly statement of condition of FRBanks
Lon-_term restricted bonds, rates, discussion of price at
2/20
meeting of FAC
Long. term issues, adoption of higher rate on as in England
..term
and Canada as means of solving problem of
Treasury financing, discussion at FAC
11/20
meeting
Price decline, public apprehension re, statement at FAC
2/20
meeting
Report by Mr. Thomas on market and reaction to recent
announcement by Treasury for refunding
6/5
of securities maturing in June and July
New York
Resale agreements, minimum rate for FRBank of
on purchases of not more than 1/8 per
cent below average issuing rate on most
recent issue of three-month Treasury
10/12
bills approved, advice to FRBanks
per cent
Treasury bonds, new investment series of 2-3/4
valuation in Common Trust Fund, ruling
3/21
re, advice to FRBanks
acquisition
Treasury bonds not yet eligible for purchase,
by commercial banks, violations of regulations re to be reported, advice to
8/24
FRBanks
Treasury
Valuation and amortization of 2-3/4 per cent
bonds of 1975-80 received in exchange
for 2-1/2 per cent, instructions of FDIC
and ruling of Comptroller of the Currency
concurred in by Board, advice to FRBank
6/1
of San Francisco
'
Gc vernment securities market:
11/20
SuPport of, discussion at FAC meeting
1/16
Thomas, Woodlief, report on developments
2/27
3/6
3/8
3/20
3/27
4/3
4/10
4/17




A
2/
6/12

1533
386

2288
385

1241

2092

639

1819

1228
2287
124
446
493
525
618
676
716
756
819
7
84 4
93
:7
1298

207
Pages
G°vernment securities market: (continued)
Thomas, Woodlief, report on developments: (continued)

Youngdahl, C. Richard, report on developments

Graduate School of Banking:
Allen, Dwight L., Asst. Director, Division of Personnel
Administration, leave of absence and
expenses approved for attendance
Forfeited registration fee to be absorbed by Board
because of inability to attend 1951
session
Board employees attending, information sent to Mr.
Quattlebaum in response to questionnaire
on educational projects and activities
Kolb, Raymond C., Chief, Machine Tabulating Section,
Division of Administrative Services,
leave of absence and expenses approved
for attendance
Rachford, Philip C., Asst. FRExaminer, leave of absence
and expenses approved for attendance
Tinsley, William H., Jr., Assistant Counsel, leave of
absence and expenses approved for
attendance
Travel expenses of examiners, vouchers to include per
diem in lieu of subsistence for time from
duty station to New Brunswick, N. J., and
return
4
Edward W., Executive Vice President, New York Stock Exchange, advice re Amendment No. 11 to
Regulation T
Greece.
Mission to, Mr. Dillistin to come to Washington to discuss, travel expenses from Patterson,
N. J., to Washington approved
T. F., Jr., Treasurer of General Construction Corporation, St. Petersburg, Fla., application
for loan under section 13b of FRAct




6/19
6/26
/
73
7/17
7/24
7/31
/
87
/
8 21
10/30
11/6
12/20
5/22
7/10
8 14
/
9/4
1 2
1/7
12/27

1363
1418
1478
1554
1608
1644
1692
1783
2182
2206
2460
1150
1517
1735
1854
2306
2492

2/7

268

6/20

1381

5/18

1127

2/7

268

2/7

268

2/7

268

7/16

1550

8/28

1836

6/4

1234

6/13

1323

208
Pages
Green, T. F., Jr.: (continued)
Defense production loans, letter to Congressman McMullen
re difficulties in securing loans in
Florida
, Section 13b loan, advice re handling of application for
rreenville, Hunt County, Texas:
Regulation W, application of section 7(j) to disaster
situation, advice to FREank of Dallas
Gr
Regulation W, letter from Mr. David
eenwood, Ernest,
Plesser on electrical appliance business
pennies, reply to letter re case of Peoples
Shortage of
National Bank of Patchogue, N. Y.
Ivan, Regulation X, protest re
GregorY,
Gridley, A. L., Regulation X, applicability to loan for construction of building on Sherman Avenue,
Coeur d'Alene, Idaho, owned by Dr. John
T. Wood as trustee for Thomson Estate
Gr°ezkruger, Paul, statements on lending activities of Government agencies and purchase of savings
bonds by public, reply to Senator
Gillette
Guillet, Mr., Regulation X, reply to questions sent to Senator

7/25
8/3

1621
1682

7/18

1572

6/11

1285

9/7
8/2

1885
1676

12/7

2390

5/28

1205

3/22

648

6/21

1397

3/22

643

2/28

468

GLIlf

011 Corporation:
Oil
Regulation X, three party arrangement for financing
filling station construction
nip

Moore, 0. Ernest, granted leave of absence without pay to
serve United Nations as financial adviser
to Government of
ilatis°n, W. E., Regulation X, reply to question on amortization
provision in Schedule III of Supplement,
interpretation to be published
Harrl
Neil J., Regulation X, statistics re housing starts
presented at Board meeting
ley, R. Aubrey, Regulation W, application to home improvement credit in Newberry, S. C.
I-1 ruish, H. R., Regulation V loans, resolution recommending
that FRBanks be authorized to approve
lialst, Thomas J., Regulation W, application to sales of used
automobiles
Y James T., Regulation X, low income groups penalized
by, letter to Congressman Johnson
Vey Machine Company, suggested waiver of guarantee fee,
not favored, advice to Administrator of
Defense Production Administration
' 4ner, Franck R., Regulations W and X, letters from Mr.
7
Louis W. Jones




8/9

1716

5/21

1145

6/11

1284

4/19

861

7/23

1605

3/22

649

9/14

1937

209
Pages
He

adquarters:
Hammons, Att W., Jr., Asst. FRExaminer, changed from
Washington, D. C., to Memphis, Tenn.
,
Lyster, Elmer W. Asst. FRExaminer, changed from Philadelphia, Pa., to Washington, D. C.
Rachford, Philip C., Asst. FRExaminer, change from
Birmingham, Ala., to Washington, D. C.,
approved
:
Hearings
Assignment of Claims Act, amendment to, before House
Judiciary Committee, draft of statement
to be read by Mr. Vest approved
Credit control and debt management, subcommittee appointed
on, Pathan statement re, advice to
FRBanks
Defense Production Act of 1950:
Extension, statement to be prepared for use of Chairman Martin
Before Senate and House Banking and Currency Committees, statement for Chairman Martin
to be revised
H. Bartels, Inc., Philadelphia, Pa.:
Regulation W violations being held by Mr. Teegarden,
public hearing to be granted if requested
For violations of provisions of Regulation W
Regulation W violations, status of hearing
Before Mr. Teegarden for violations of Regulation W,
recommendations
Order granting respondent's request for oral argument
re violations of Regulation W approved
Master Tire and Supply Company, Lawrence, Mass., Regulation W violations, NLRB examiner requested to conduct
Louis Master and Morris Master, d.b.a. Master Tire and
Supply Co., Lawrence, Mass., order for
proceedings and notice of hearing re
Regulation W violations
National Used Car Dealers Association, Regulation W,
granted extension of time for submission
of additional information
Patman Subcommittee of Joint Committee on Economic Report,
information to be furnished to, discussion
at Presidents Conference
Patman Subcommittee Questionnaire, date and number of witnesses for, statement of Chairman Martin
at meeting of FAC
Regulation W:
Representatives of National Used Car Dealers Association and of NADA to meet with Mr. Evans
and other Board members on January 18




/7
6 2

1437

3/13

572

6/1

1227

3/6

505

4/12

802

4/26

895

5/8

989

7/17
7/19
7/31

1554
1592
1653

11/13

2232

11/13

2234

9/11

1920

10/4

2065

2/16

361

5/18

1132

11/20

2283

1/11

105

210
Pages
Hearings: (continued)
Regulation W: (continued)
Examiners borrowed from other Government agencies for
increase in budget to cover salaries and
traveling expenses
Fifth Avenue Motors, Inc., Columbus, Ohio, witness
fees approved
and National Used Car Dealers Association, tranNkDA
scripts of views and memoranda sent
Joint Committee on Defense Production
National Used Car Dealers Association, extension of
time granted for submission of supplemental information, advice to Mr. Cain
Public, to be granted if requested
To determine suspension of license, services of Mr.
Fitzpatrick, hearing examiner for NLRB,
requested
Violations, Mr. Harold B. Teegarden, Hearing Examiner,
GS-13, requested to direct
.
8 349, Defense Housing and Community Facilities and
Services Act of 1951, draft of statement
to be prepared for use of Chairman McCabe
or Mr. Norton
to amend Section 13b of FRAct, statement for
.
8 1647,
Chairman Martin approved, but hearings not
to be held
Subcommittee of House Judiciary Committee on Study of
Monopoly Power, Mr. Phelan to testify on
fees in connection with V-loans before
Transamerica Corporation, letter to Mr. Gesell on procedure for oral argument
Vloans, interest rates and fees on, testimony of Mr.
Phelan before subcommittee of Judiciary
Committee of House
Reid,
Helm Harry, member of Voluntary Credit Restraint Committee
nlund, A. G., Regulation X, inquiry re extension of additional credit up to maximum loan value
4to cover amount stolen by contractor
nuangs, Thomas C., Jr.:
Regulation W, reply to changes proposed by Mr. J. Emmett
FitzGibbon
Regulation X, objectives of registration statement, reply
to inquiry of Mr. W. H. Bunn
411,4
n-Lngsen, Mrs. Bertha, regulation X, request for exemption
Len, Regulation W, complaint re enforcement methods
"rson, John D., Asst. Secretary of State, international
conference, Board representation at,
advice to
441.
lngs, Patrick J., Regulation X, leasing plans of B. E.
Turner, Inc.




10/25

2155

1/12

117

2/9

314

2/6
7/17

263
1555

9/28

2028

5/17

1106

2/8

270

7/3

1480

2/8

269

11/30

2329

2/13
5/7

328
987

1/25

198

3/12

569

6/11
5/10
8/17

1291
1021
1769

6/27

1444

4/26

897

211
Pages
Hind,3
County Retail Furniture Delaers Association of Jackson,
Miss., Regulations W and X, effects on
furniture business and purchase of homes
in area of Jackson
Hinkle, Elmer O., Regulation W, appliances, suggestion that
used appliances be credited on down
payments
Elmer O., Sr., Regulation W, application to appliances
Hoiand housefurnishings sale
ding company affiliates:
Acquisitions, position of Board re, FRBanks to be advised
of admonition to Marine Midland Corporation concerning advance notice, draft to
be submitted to Board
Annual reports for 1951, on Form FR 437, advice to FRBanks
BancOhio Corporation, Columbus, Ohio, issuance of general
voting permit to vote stock of Knox
County Savings Bank, Mount Vernon, Ohio
Bank Shares Incorporated, issuance of employees' fund
certificates and corporate notes, matter
to be reported to Attorney General as
possible violation of section 21 of
Banking Act of 1933
First Security Corporation, Ogden, Utah, acquisition of
stock and debentures of Aubrey G. Lanston
& Co., Inc., application of section 5144
of U. S. Revised Statutes, advice to
FRBank of San Francisco
Legislation:
Not to be proposed at this session of Congress
Question of consideration at present Congress
Discussion of means to bring about passage of bill
Discussion of, consideration of matter to be postponed
for present
Comments of FRBanks requested for reports on legislative proposals for 1952
Report to Bureau of tne Budget on bills
.Need for satisfactory, statement of Chairman Martin
l
'Iarine Midland Corporation, Jersey City, N. J.:
Dividend policy, advice to FRBank of New York
Application for general permit to vote stock of
National Chautauqua County Bank of
Jamestown, N. Y., action deferred pending Mr. Evans' recommendation, FRBank of
New York to be advised
Action to be postponed until Board meeting on
December 17, Mr. Sproul to be advised
Issuance approved after further discussion, but
no decision re application of Clayton
Act indicated




5/17

1107

5/11

1034

5/14

1048

12/17
12/20

2431
2476

8/24

1818

1/10

95

8/28

1840

1/9
3/27
4/12

82
682

795

4/24

882

11/2
12 4
/
12/14

2202
2353
2422

8/24

1820

12/6

2366

12/14

2417

12/17

2425

212
Pages
H°1ding company affiliates: (continued)
New Hampshire Bankshares, Inc., Nashua, N. H., issuance
of general voting permit to vote stock
of New Market National Bank, Newmarket,
N. H.
Bancorporation, rubber stamp legends to comply
Northwest
with Statement of Borrower requirements of
Regulation X, advice to FRBank of
Minneapolis
Transamerica Corporation, San Francisco, Calif.:
Issuance of limited permit to vote stock of First
National Bank of Mountain View, Calif.,
and First National Bank of Garden Grove,
Calif.
Issuance of limited permit to vote stock of First National Bank of Mountain View, Calif.
of limited permits to vote stock of First
Issuance
National Bank of Arizona, Phoenix,
Arizona, and First National Bank of
Eugene, Oregon, approved
Ho
lidays
:
Christmas party/ annual party for staff of Board, increase in budget of Division of Personnel Administration approved to cover cost
December 24 and 31, 1951, to be holidays, but time to be
made up on Saturdays, December 29, 1951,
Ho]and January 5, 1952
-Land, Spessard L.:
APplication for loan under Section 13b of FRAct made by
Mr. T. F. Green, Jr., Treasurer of General Construction Corporation, St.
Petersburg, Fla.
Regulation X, letter from Mr. C. A. Williamson re supply
of mortgage funds
Regulation X, alteration of building in Gainesville, Fla.,
for use of Department of Agriculture
subject to, advice to
liolMes Tuttle, Inc., Los Angeles, Regulation W I credit extended to automobile purchasers for
gasoline, oil, tires and repairs
Ho
lsten, Edward L., appointment as alternate to Mr. Siaitny on
Voluntary Credit Restraint Committee
°it Y Tom M., Regulation W, effects on sales of household
appliances and television sets
'
Federal Savings and Loan Association of Des Moines, Iowa,
Regulation X, answer to questions on
T
Horn. Loan
- L
Bank Board, Regulations W and X, enforcement procedure, information to be furnished to
FRBanks re Registrants, letter to Chairman Divers requesting




1/4

34

1/25

195

1/17

139

7/12

1542

10/17

2127

12/10

2392

12/12

2407

/
6 13

1323

6/5

1251

12/27

2503

4/9

753

5/17

1104

/
64

1237

2/7

267

3/16

610

213
Pages
oov
Her Commission, S. 1139, recommendations re regulatory
agencies of Government, report sent to
4/18
Bureau of the Budget
Ho
ran, Walter, Regulation X, telegram from Mr. Warren L.
8/9
Williams re terms
Hornstein, David, Regulation X, leasing of housing under construction in Wheaton, Md., by Gelman
11/28
Construction Company, plan subject to
Hospitalization:
7/16
FRBank of St. Louis, increase in expenses, no objection
Group, pay roll deduction of monthly dues approved, Division of Personnel Administration to be
6/4
in charge of material
7/16
Memohis Branch, increase in expenses, no objection
qours of work:
December 24 and 31, 1951, to be holidays, but time to be
made up on Saturdays, December 29, 1951,
12/12
and January 5, 1952
FRBank of San Francisco, amendment to article VII of bylaws to permit closing head office and
Los Angeles branch on Saturdays, no
/14
6
objection
Machine tabulation, operation of equipment on night shift
and employment of Senior Tabulation
Equipment Operator and Key-Punch Operator
10/10
approved
Staff of Board, Director of Division of Personnel Administration authorized to excuse from work
4/17
for parades, because of bad weather, etc.
H°118e purchasers, survey to be conducted by National Analysts,
5/16
Inc., additional expenses approved
Housing:
Defense, draft of bill re, report sent to Bureau of the
1/8
Budget
11/20
Loans for, discussion at FAC meeting
Federal Housing Programs, contribution of FRSystem to
pamphlet, material sent to Library of
3/23
Congress
S. 349, Defense Housing and Community Facilities and
Services Act of 1951, revised statement
as approved by Messrs. McCabe and Norton
to be presented as position of Board if
2/13
requested
approved after discussion
Revised draft of statement
2/15
of Mr. Norton with Mr. Foley
housing and community facilities
To assist provision of
and services required in connection with
national defense, report to Senate Banking
2/20
and Currency Committee
Council of American Federation of
Statement of Executive
6/12
Labor, effects of Regulation X on




853
1722

2318
1552

1235
1552

2407

1341

2083

836
1098

71
2277

665

331
348

409
1317

214
Pages
Rousing and Home Finance Agency:
CR-1, Regulation on credit control relaxation, amendment
to include Idaho Falls, approved by
Board, advice to
Defense area designations:
Arco, Blackfoot and Idaho Falls, Idaho, approved,
advice to Mr. Foley
Brazoria County, Texas, programming of additional
housing units approved, advice to
Colorado Springs, Colorado, designation approved
Paducah and Savannah River areas, designation and
schedule of terms under Regulation X
approved
Procedure for exceptions approved, advice to
San Diego, Calif., designation approved, advice to
Mr. Foley
Star Lake, New York, designation approved
Defense housing areas, issuance of instructions to suspend credit controls for, approved by
Board, advice to
Defense housing bill, meeting attended by Messrs. Evans,
Riefler, Vest, Noyes and Benner to discuss relaxation of real estate credit
controls with Mr. Foley
Fiscal agency functions to be performed by New Orleans
Branch for, no objection to contract
submitted by Acting Secretary of Treasury
Real estate credit controls, discussion of relaxation of
terms, Board's staff to make study, Mr.
Foley to be advised
Relaxation of terms discussed, not favored by Board at
present but review of situation to be
continued, Mr. Foley to be advised
Effect of enactment of defense housing bill, discussion of recommendation of Presidential
veto
Report on H.R. 5278 on direct loans under Servicemen's
Readjustment Act, submitted to Board for
report
Regulation X:
Revision approved subject to clearance with Director
of
As amended effective February 15, 1951, approved by
Amendment to exempt defense construction, approved
subject to approval of Administrator
Amendment not approved by Mr. Foley, matter to be
considered further
Amendment to Section 6, defense construction, approved
by
Amendment No. 2, approved by Mr. Foley
Amendment No. 3 approved by




4/11

785

3/29

698

8 30
/
5/3

1845
963

22
/7

449
499

3/6
4/24
5/15

878
1083

/0
8 3

1846

7/31

1651

3/2

478

7/31

1652

87
/

1695

8/23

1800

10/2

2034

1/4
2/9

29
309

2/21

413

2/21

415

2/27
3/15
3/29

446
590
696

215
Pages
lic3using and Home Finance Agency: (continued)
Regulation X: (continued)
Tightening of terms, Mr. Norton to discuss with
3/20
Mr. Foley
Tightening of terms, study being made by staff, views
to be reported after
3/29
Amendment to procedure for approval of defense areas,
advice to Mr. Foley
4/30
Amendment No. 5 and proposed registration statement,
copy sent to Mr. Foley for views
5/2
Statements of Messrs. Foley and Hardy on relaxation of
8/9
terms made at Board meeting
11/13
Amendment No. 7, approved by
Suggestion of Mr. Vardaman that administration be
12/4
assigned to
Savannah River, S. C., area, authorization for construction of additional units at present and
total of 3600 as specified, advice to
5/25
Mr. Foley
of
Savannah River plant in South Carolina, construction
temporary housing, survey of project to
determine need for relaxation of terms
6/15
to Regulation X requested
2/13
S. 349, draft of statement discussed with Mr. Foley
Survey re nonfarm mortgage lending activities, Board will1/2
ing to collect data, advice to be sent to
Voluntary credit restraint program, change in Bulletin No.
4 and Regulation X to be discussed by
9/6
Mr. Powell with Mr. Hardy
Hoe, A.
D., status report on Kansas-Missouri flood disaster
rehabilitation and comments on disaster
8/13
bills sent to
111411Phrey, Hubert H., mortgage funds, letter from Mr. Segal
attributing shortage to change in FRSys8/23
tem's open market policy
RtInt, Senator Lester C., eligibility of Ideal Tool and Laboratory Co. of Cheyenne for V-loan financing
12/5
of defense contracts, advice
kriter, Allan, Regulation W, letter from Mr. George Kaye protesting down payment requirement on
8/8
appliances

622
700
932
953
1714
2240
2341

1192

1351
331
2

1873

1729

1807

2363

1709

"I"
Ideal Tool and Laboratory Company of Cheyenne:
V-loan financing of defense con -fa-acts, advice to Senator
Hunt re eligibility for, application of
American National Bank of Cheyenne for
guarantee of loan to be transmitted to
defense agency upon receipt




12/5

2363

Identification cards:
FRBanks and branch officials to use on visits at Board
and FRBank and branch buildings, views
of FRBanks requested
Issuance to members of certain groups and form approved
laentification certificates:
For Regulation X investigators, letter to FRBanks on text
and form of
For investigators under Regulations W and X, change in
wording because of amendment to law
Illinois
Bankers Association, report of subcommittee on adequacy of bank capital, letter to Mr.
Freeman
Illinois Power Company, Regulation W, application to plan for
instalment rental of gas-fired water
heaters
illh°ff, Jim, Regulation X, protest re
'ebtednes and outside business connections:
fld
Boston, Lyon, FRBank of New York, no objection to
Briere, Robert G., appointment as examiner of FRBank of
Minneapolis, not to participate in examination of Princeton State Bank, Princeton, Minn., because of indebtedness to
Clerk, Franklyn, appointment as examiner for FRBank of
San Francisco approved, not to participate in examinations of Bank of America
NT&SA or affiliates until indebtedness
liquidated
Dreitzler, Ralph J., appointment as examiner of FRBank
of Minneapolis, not to participate in
examination of First Robbinsdale State
Bank, Robbinsdale, Minn., as indebted to
Gardenhour, Edgar F., appointment as examiner at FRBank
of Richmond approved, bank stock to be
disposed of and indebtedness to Virginia
Trust Company to be liquidated
IlIclePendent Bankers Association:
Bank holding company legislation, discussion with President Harding
Federal Advisory Council, resolution on amendment to FRAct
re election of members and terms of
office, comments of FRBanks to be requested
Resolution recommending amendment to FRAct re election and
rotation of FAC members, comments of
Directors of FRBanks requested
Ildianapolis Produce Terminal, Inc., Regulation X, amendment to
exempt not desirable
Actions to combat, memorandum of Chairman McCabe to be sent
to Defense Mobilization Board
Discussion of




216
Pages

8/17
9/27

1767
2024

1/10

92

8/2

1676

10/9

2079

10/15
8/2

2113
1676

1/12

111

11/28

2313

10/3

2043

11/28

2313

3/13

572

4/24

882

5/31

1215

6 11
/

1280

3/27

688

1/11
1/16

98
124

217
Pages
Inflation: (continued)
Control of, letter to all banks re educational program of
2/12
Consumer Credit Committee of ABA
Fiscal and monetary actions to combat, to be discussed at
2/1
FAG meeting
2/20
Statement of FAC and discussion of
Payment to stockholders in cash because of merger of banks,
8/14
to be considered again
Information:
Docket of important matters to be read at Board meetings,
12/6
suggestion of Mr. Vardaman
Educational activities of FRBoard, items sent to Library
10/2
of Congress
Loans, industrial, data to be sent to Mr. Saulnier, National Bureau of Economic Research, Inc.,
N. Y., on advances and commitments under
6 11
/
Section 13b of FRAct
Mercantile-Commerce Bank and Trust Company, St. Louis, Mo.,
request from Mr. Berger for copy of letter
re purchase of Mercantile-Commerce
National Bank, Board not to furnish such
7/12
information
Official requiring safeguarding for security reasons,
Executive Order 10290 re handling, Mr.
Thurston designated as security officer
10/26
of Board
Patman Subcommittee of Jcint Committee on Economic Report,
hearings by, information to be furnished
5/18
to, discussion at Presidents Conference
Statistical, Executive Order providing for improvement of
work of Federal Executive Agencies re,
1/24
no comments, advice to Bureau of Budget
In'larance:
s
American National Life Insurance Company of Galveston,
Texas, Regulation X, advice to FRBank of
5/11
Dallas re application
Pennsylvania Company
Colonial Surety Company, affiliate of
for Banking and Trusts, amendment of
charter to permit writing of fire, theft,
and collision insurance on automobiles,
question of violation of condition of
membership of member bank, advice to
FRBank of Philadelphia
3/7
FRBank of St. Louis and Memphis Branch Hospitalization,
7/16
increase in expenses for, no objection
Federal Reserve Life Insurance Company, St. Louis, Mo.,
violation of Title 18 U.S.C., Sec. 709
through use of words "Federal" or "Reserve", advice to I REank of St. Louis
5/14
Fidelity coverage, copies of list and chart from FDIC sent
to FRBanks for discussion with member
banks
5/4




324
235
382
1746

2368
2039

1281

1536

2171

1132

183

1038

509
1552

1042

981

218
Pages
I
nsurance: (continued)
Fidelity coverage: (continued)
Advice to FRBank of San Francisco re use of word
"maximum" by Mr. Hari in correspondence
Group hospitalization, pay roll deduction of monthly dues
approved, Division of Personnel Administration to be in charge of material
Group life:
Improved benefit to employees of FRBanks and Board in
connection with active service death benefit under Retirement System
To provide for active service death benefit, committee
to negotiate contract after approval by
FRBanks
Continuation of existing group contracts after effective date of proposed contract providing
group life on noncontributory basis, topic
for discussion at Presidents Conference
Policies, continuance after effective date on noncontributory group life, discussion at
Presidents Conference
Plan for officers and employees of FRSystem, ruling requested from Wage Stabilization Board on
Continuation of existing policies after effective date
of proposed noncontributory group insurance plan, draft of letter to FRBanks to
be prepared
Copy of proposed contract and application to be executed by FRBank of Chicago sent to
FRBanks and Secretary of Retirement System
Amended contract with Connecticut General Life Insurance Company approved and FRBank of
Chicago authorized to execute application
Contracts, existing contracts to be terminated at end
of policy year, advice to FRBanks
Supplemental payments to increase death benefits of
those retired because of disability, now
obsolete because of new plan
Contract, name of firm of Towers, Perrin, Forster and
Crosby not to be mentioned in explanatory
pamphlet
Louisville Branch, increase in rates of Mlle Cross organization, no objection to assumption of
additional expense
Regulation X:
Compliance of insurance companies, investigative procedure approved, advice to FRBanks
Compliance of companies, program adopted by Liaison
Committee of National Association of Insurance Commissioners, advice to President Allyn




5/28

1198

V4

1235

5/3

958

7/17

1558

9/5

1870

10/4

2057

10/15

2099

10/15

2108

10/26

2175

11/1

2193

11/16

2267

11/16

2268

12 4
/

2359

12/18

2445

1/10

93

2/9

315

219
Pages
Insurance:
(continued)
Regulation X: (continued)
Investigation of branch offices of insurance companies
for compliance, procedure re, advice to
3/23
FRBanks
Interdistrict settlement fund, emergency plans, Messrs. Nowlan,
Coleman, Carr, and Crump of FRBank of
9/11
Richmond authorized to operate
Interest:
PRnotes:
Reply to Mr. Walter E. Spahr re action of Board
Payment to Treasury, establishment of rate for period
ending:
December 31, 1950, advice to FRBanks
March 31, 1951, advice to FRBanks
June 30, 1951, advice to FRBanks
September 30, 1951, advice to FRBanks
Payments by member banks, no objection to proposed cornputation, pending amendment of Regulation
Q, advice to FRBank of San Francisco
Savings deposits, payment during first ten days of month,
suggested amendment to Regulation Q
Int
erlocking directorates:
Advisory Board of Mercantile Trust Company, St. Louis,
Mo., members not permitted to serve as
directors of Manufacturers Bank and Trust
Company, St. Louis, Mo., advice to FRBank
of St. Louis
No change in ruling after reconsideration of new by-

659
1906

3/29

706

1/2
4/27
7/26
10/26

13
901
1631
2175

11/28

2317

8/15

1750

10/10

2087

,,, 4
.4%,12/

2357
Stratton,* teslie M., Jr.; service as director of Union
n44,- c Planters National Bank and Trust Company, ,
4_L
;
i.e.
Memphis, Tenn., and as director of
Memphis Branch, no objection to continua2/15
350
tion for remainder of term
er
national Bank for Reconstruction and Development:
Conference, directors and officers invited to meeting and
1260
6/6
luncheon with Board
Fiscal Agency Agreement with FRBank of New York, approved
2/26
4144
in form of proposed Supplement No. 1
Fiscal Agency Agreement between FRBank of New York and
Bank approved in form of proposed Supple1887
9/7
ment No. 2
Garvy, George, granted leave with pay to assist in
2125
10/17
Nicaraguan program
Glaessner, Philip J. W., economist at FRBank of New York,
granted leave without pay to complete
1/18
145
assignment for
Iraq, mission to, Mr. Kriz of FRBank of New York to serve
2/23
430
on
Kriz, Miroslav A., FRBank of New York, granted further
leave of absence to complete assignment
1598
7/20
with



220
Pages
International Bank for Reconstruction and Development (continued)
Luncheon for officials of central banks attending Sixth
Annual Meeting of Boards of Governors
9/5
approved
Microfilm records, agreement with FRBank of Richmond to
6/22
act as agent for storage of
International Business Machines Corporation:
Equipment to process postal money orders, Defense Order
ratings for manufacture of 81 machines
for FRBanks requested
5/4
International financial developments, report by Mr. Dembitz
4/5
International Monetary Fund:
Conference, directors and officers invited to meeting and
6/6
luncheon with Board
Gold transactions, modification of position re, question
of maintenance of U. S. gold regulations
and price referred to Messrs. Martin and
11/15
Szymczak with power to act
Luncheon for officials of central banks attending Sixth
Annual Meeting of Boards of Governors,
9/5
approved
Roche, Thomas J.2 extension of leave for service as Chief
1/15
of Gold Section
5/17
Request for extension of leave without pay approved
Thackera, James, to work with Mr. Olson on mission to
3/20
Paraguay
Von Klemperer, Alfred, FRBank of New York, granted leave
with pay to assist Exchange Restrictions
8/22
Department in staff study
Interstate Securities Company, Kansas City, Mo.:
Regulation W, use of assignment and assumption agreement
or execution of new mortgage for transfer
of equity in case of automobile, no
3/2
objection
inventory situation resulting from decline in volume of retail
buying and problems of business concerns
5/28
and banks, report of Mr. Powell
Iriv
estment Bankers Association of America, voluntary agreements,
2/5
letter to, copy sent to Mr. Sproul
, Advice to FRBanks
2/7
-Lnv
estment trust shares, applicability of Regulation U to loans
3/8
secured by
Iraq:
Mission to, leave with pay granted to Miroslav A. Kriz,
FRBank of New York, to serve on
'fly Robert L., margin requirements, application of RegulaT
Xtaly
International Credit Conference, designation of Mr. Evans
as Board representative
Iv
es, Irving M., Regulation W, letter from Mr. E. D. Schmidt,
re enforcement activities




1870
1.402

978
728

1260

2256

1870
118
1104
624

1795

479

1196
251

266
527

2/23

430

2/2

241

9/7

1897

8/8

1708

221
Pages
Ifj

Jai, O. F., of Vermont Plumbers, Regulation W, applicability
to television and appliance sales
JaPan:
Account of Government as agent for SCAP with FRBank of
New York, negotiations to be made with
Messrs. Allison and Diehl
Peace treaty with, no Board authority to expire by,
advice to Bureau of the Budget
'its, J. K. Regulation W, television and electrical appliance industry, reply to letter
n, Edwin C., Regulation X, letter from Mr. Sechler re
shortage of mortgage funds
j°111180n) Leroy, Regulation X, low income groups penalized by,
letter from Mr. James T. Harvey
johnso
n Lyndon B.:
Defense functions of Board, advice sent to
Regulation X, application to construction of building by
Mr. D. R. Blackburn et al at Victoria,
Texas
Johnson
Home of Joliet, Ill., Regulation X, applicaNursing
tion to, advice to FRBank of Chicago
uaston, Senator Olin D.:
Regulation W, application to home improvement credit in
Newberry, S. C.
Regulation W, violations in Oconee County, S. C., reported by Mr. L. Neil McCallum, advice
re investigation
Joint Committee on Economic Report, testimony of Mr. Eccles
before and statement of Mr. Vardaman on
Joint statements:
Debt-management and monetary policies, agreement between
Board and Treasury,press statement
approved and ratified
Mergers, proposal of Comptroller of the Currency re statement on paying out of cash, discussion of
draft and distribution, Mr. Powell to
meet with Messrs. Delano and Marl to
discuss
fles Albert A., Regulation W, application to outside
barbecues
Jone_,
6 Louis W. Regulations W and X, letters to Congressman
)
Havenner
Josep,
n Roger E., Regulation W, inquiry re proposed automobile
lease program of Minneapolis dealer,
advice to FRBank of Minneapolis

4/11

780

1/29

209

12/18

2451

5/25

1187

6/13

1333

7/23

1605

5/21

1143

10/25

2159

5/21

1145

7/18

1578

1/30

217

3/2

475

7/5

1497

8/6

1690

9/14

1937

9/25

2003

7/18

1565

It K tl

4nsas:
Floods, financial assistance for business concerns, RFC
loans and FRSystem cooperation for



222
Pages
K4nsas: (continued)
Floods: (continued)
Regulations W and X, advice to Congressman Scrivner
re designation of disaster areas by
7/26
FRBanks of Kansas City and St. Louis
Kansas-Missouri flood disaster rehabilitation, status report
and comments on disaster bills sent to
8/13
Office of Defense Mobilization
1C4Ye, George, Regulation W, protest to Congressman Hunter on
8/8
down payment requirement on appliances
,
Kee "
2/16
reply to letter re
n
Howard S., margin requirements,
and appliance sales,
"Lauver, Estes, Regulation W, television
comments of Mr. Paul Y. Richardson on
5/2
Ke
lleher, James J., Regulation W, advice re alleged violation, matter referred to FRBank of
1/26
Richmond
Kelley Blue Book, copies of Amendment No. 5 to Regulation W
12/29
sent to
Kelley Kar Company, Regulation W, application to sale or
financing of insurance a gasoline, oil,
tires and repairs, advice to FRBank of
5/11
San Francisco
with, advice to FRBanks
Regulation W, devices conflicting
in connection with inquiries of Canfield,
5/21
Schell, Hannan & Castiello
Kilbane Brothers, Inc., plan to construct warehouse for
Abbott Laboratories, subject to Regula87
/
tion X
41gOre y Senator Harley M., Regulation W, discussion by Mr.
Armstrong of Baltimore Branch with Mr.
1/9
Vineyard
Killian B F., Regulation X, protest re
8/2
4ing, Cecil
R., Regulation W, reply to letter from W. A. Gordon
re problem of Government employees in
1/5
obtaining automobiles
ICirbY Company of Spokane, Wash., and of Sacramento, Calif.,
Regulation W, status of dealer-salesmen
7/18
re registration under
Kittl
8/2
xni e, Grant, Regulation X, protest re
gilt, Joan, of Bank of England, expenses involved in enter10/16
tainment by Miss Ayers approved
411°
'4and, William F.:
Regulations W and X, reply to inquiries re television and
appliance sales and investigation of
4/11
records
5/18
Kore
from Mr. Pearce re
:egulation X, letter
Bloomfield, Arthur I., granted leave of absence to assist
in banking and monetary reconstruction of
South Korea
Klima
Cr, H. H., Regulation X, application for exemption not
approved




1631

1729
1709
361

953
206
2516

1032
1147

1703
85
1677
65

1574
1676
2123

780
1122

9/26

2007

1/18

147

223
Pages
nip
Landen, Clarence L., Regulation W, reply to letters questioning need for
Lane,
Thomas J., Regulation W, letter from Mr. Wentworth re
effects on sales of automobiles to
workingmen who require cars to reach
places of employment
Lane,
Winthrop B., Assignment of Claims Act of 1940, proposed
amendment to, language of bill, reply to
views on
Langer, William, Regulation W, reply to letter from Mr. Poop,
Vice President, First National Bank of
Bismarck, N. D., re application to sale
of repossessed automobile
Le,.Sser,
David, Regulation W, television sales, request for relaxation of requirements not approved
Le,yton,
William Monroe, Regulation W, payments on automobile,
reply to letter from Senator Maybank
Leaks:

3/13

6 5
/

1254

3/22

651

1/12

115

5/10

1019

9/5

1866

Fleeson, Doris, article in Washington Evening Star re discussion at executive session of FOMC on
January 31, discussion of source of
2/6
information
Lea
sed wire system:
Additional machines for emergency operation to be set up
at FRBank of Richmond
5/3
Additional installations for more efficient service to be
made, advice to Western Union Telegraph
10/22
Company
Arrangements of Western Union Telegraph Company
11/8
approved, advice to Mr. Manning
Leav
esof absence:
Allen, Dwight L., leave and expenses approved for attend2/7
ance at Graduate School of Banking
Annual:
Amendment to reduce to 23 days for 1951 and to 20 days
each year thereafter in order to conform
with Government leave program approved,
provision re use of leave before June 30,
9/17
1952, not adopted
11/13
Revised schedule approved
Bloomfield, Arthur 1., FRBank of New York, granted leave
without pay to assist in banking and
9A6
monetary reconstruction of South Korea
bkckley, Thomas N., Telegraph Operator, to be reemployed
after military leave if desired, but
extension of six months duty not approved 12/6
Conrad, Alfred H., econondst, extension of leave without
4/11
pay approved
E
xaminers (field staff of Board), arrangement for proper
11/13
scheduling of vacation periods approved




575

256

972

2144
2217

268

1943
2225

2007

2376
777
2225

224
Pages
eaves of absence: (continued)
FRBank employees, leave with pay for Community Chest, Red
Cross, Infantile Paralysis and similar
drives, advice to FRBanks
Fitchen, Paul R., FRBank of New York, granted leave without pay to serve as financial adviser to
Union Bank of Burma, Rangoon, Burma
Fort, Joel B., Jr., Vice President and Manager at Nashville, payment for accrued vacation leave
at time of death not approved
Garvy, George, FRBank of New York, granted leave with pay
to work with International Bank in assisting Government of Nicaragua
Glaessner, Philip J. W., economist at FRBank of New York,
granted leave without pay to complete
assignment for International Bank for
Reconstruction and Development
Granted leave without pay for one year to become
Economic Officer on Brazil-United States
Commission for Economic Development
Goheen, Loretta M., Division of Bank Operations, granted
sick leave through June 30, 1952, not to
be charged to leave subsequently accruing
Green, Lettie, charwoman, granted leave without pay for
four months
Harrison, Eugene C., clerk in Counselis Office, granted
military leave
Johnson, Sven, foreman of laborers, granted leave for
active duty with U. S. Naval Reserve
Jones, Homer, granted official leave to attend National
Conference on Income and Wealth
Kolb, Raymond C., leave and expenses approved for attendance at Graduate School of Banking
Kopfman, Thomas V., clerk, reinstatement and salary approved upon return from military service
Kriz, Miroslav A., FRBank of New York, granted leave with
pay to serve on mission to Iraq
Granted further leave to complete assignment with
International Bank
Malia, Anne, secretary in Division of International
Finance, leave without pay approved
Martin, Raymond J., operator (duplicating devices), reinstatement and salary approved upon return
from military leave
Maternity:
Weaver, Mrs. Mary F., clerk, granted permission to
continue on duty beyond time specified
in regulations
McGuire, Elizabeth J., stenographer in Division of Administrative Services, granted leave without
pay




9/25

2001

6/20

1380

/4
12

2336

10/17

2125

1/18

145

8/21

1787

12/6

2376

6/21

1385

11/16

2265

1/5
9/11

62
1918

2/7

268

12/12

2398

2/23

430

7/20

1598

1/17

138

12/19

2453

2/8

273

6/5

1250

225
Pages
Leaves of absence: (continued)
Mitchell, George W., FRBank of Chicago, extension of leave
to continue as Director of Finance for
State of Illinois approved
Moore, O. Ernest, FRBank of New York, granted leave without pay to serve United Nations as financial adviser to Government of Haiti
Morgan, John S., FRBank of New York, granted leave without
pay to serve as Assistant to Economic
Adviser of UN Relief and Works Agency for
Palestine Refugees in Near East
Official:
Professional associations, expenses and official leave
authorized for certain staff members to
attend meetings in Boston
Page, Grover C., Asst. FRExaminer, fifteen days of annual
leave credit approved for
Peregory, Walter L., Offset Press Operator, reinstatement
after military leave approved
Policies re annual and sick leave, no change to be made at
present
Rachford, Philip C., Asst. FRExaminer, leave and expenses
approved for attendance at Graduate School
of Banking
Regulations of Board, revision to conform in general to
Government policies re annual and sick
leave approved
Roche, Thomas J., FRBank of New York, extension of leave
for service as Chief of Gold Section of
International Monetary Fund
Extension of leave without pay to assist International
Monetary Fund approved
Schlesinger, Eugene, FRBank of New York, granted leave
without pay to assist United Nations
Schweiger, Irving, granted official leave to attend National Conference on Income and Wealth
Sick leave, reduction in credit from 15 to 13 days approved
Stead, William H., Vice President at FRBank of St. Louis,
granted extension of leave on same conditions as original leave
Stein, Weldon A., FRBank of St. Louis, granted leave with
pay for assignment with Department of
Interior
Tate, Henry, laborer, reinstatement in position and salary
approved after return from military leave
Tinsley, William H., Jr., Assistant Counsel, leave and
expenses approved for attendance at
Graduate School of Banking
Vacation:
Fort, Joel B., Jr., Vice President and Manager at
Nashville Branch, payment for accrued
leave at time of death not approved




1/26

203

3/22

643

10/5

2070

12/18

2441

6/21

1386

81
/4

1749

5/15

1081

2/7

11/13

268

2222 '

1/15

118

5/17

1104

1/18

145

9/11
11/13

1918
2225

3/14

583

1/16

132

11/19

2270

2/7

268

12/4

2336

226
Pages
L aves of absence: (continued)
Von Klemperer, Alfred, FRBank of New York, granted leave
with pay to assist Exchange Restrictions
Department of International Monetary
8/22
Fund in staff study
Weaver, Mrs. Mary F., clerk, maternity leave, granted permission to continue on duty beyond time
2/8
specified in regulations
Granted leave without pay
/
83
8/31
Reemployment after maternity leave
Weiner, Louis, granted official leave to attend National
9/11
Conference on Income and Wealth
11/6
leave without pay granted
Zacharay, Mrs. Rubye, clerk,
Le
gislation:
Act of May 15, 1951, amending Assignment of Claims Act of
1940, effect on applications for V-loan
6 21
/
guarantees, advice to Senator Maybank
Assignment of Claims Act, changes in, draft to be pre1/9
pared for inclusion in omnibus bill
recommended,
Amendment re guaranteed loan program
clearance requested from Bureau of the
1/10
Budget
1/18
Mobilization
Amendment to, advice to Office of Defense
Need for amendment to, in connection with V-loan pro1/22
gram, information requested from FRBanks
Proposed amendment to, memorandum of information from
FRBanks re need for, sent to Bureau of
1/29
the Budget
Amendment, draft sent to Bureau of the Budget for
2/9
clearance
production program,
Amendment to facilitate defense
letters to Senator Maybank and Congress2/13
man Celler approved
2/20
letter from Senator Robertson
Amendment to, reply to
for, matter to be discussed
Amendment to, urgent need
by Chairman McCabe with Mr. Weinberg of
2/27
ODM and Senator Robertson
statement to be read by Mr.
Amendment to, draft of
3/6
Vest at hearing on, approved
and S. 998 introduced, views
Amendment to, H.R. 2947
3/22
of Mr. Lane on language of
statement to be published in
Amendment to Statute,
5/11
FRBulletin
President, statement at FAC meeting 5/15
Amendment signed by
, Amendment to, copies of Act sent to FRBanks and branches 5/25
Bank holding companies, not to be proposed at this session
1/9
of Congress
3/27
present Congress
Question of consideration at
4/12
about passage of bill
Discussion of means to bring
Discussion with President of Independent Bankers Association of Twelfth FRDistrict, considera4/24
tion to be postponed




1795

273

1680
1849
1918
2208

1392
81

91
1144
160

208
318

328
409

445
505
651
1039
1065
1193
82
682
795

882

227
Pages
Le

gislation: (continued)
Bank holding company: (continued)
Comments of FRBanks requested for report on legislative proposals for 1952
Report to Bureau of the Budget on bills
Need for satisfactory legislation stated by Chairman
Martin
Bill to amend section 9 of FRAct and section 5155 of Revised Statutes, etc., draft of letter to
Banking and Currency Committees sent to
Bureau of the Budget
Capital requirements of banks for membership in FRSystem,
Mr. Powell to discuss matter with Comptroller of the Currency and Chairman of
FDIC
Draft discussed by Mr. Powell with FDIC, report to be
made of discussion with Comptroller of
the Currency
Draft presented by Mr. Powell to FDIC and Comptroller
of the Currency for study
Draft of bill sent to FRBanks for comments
Proposed legislation, discussion at Presidents Conference of removal of provisions re reserve
requirements and FRnotes and of question
of FDIC approval for deposit insurance
Comments of FRBanks requested for report on legislative
proposals for 1952
Report on draft of bill sent to Bureau of the Budget
Modified bill to amend FRAct and Revised Statutes sent
to FDIC for comments
Civilian War Relief Act of 1951, report to Bureau of the
Budget on
Compilation of Federal and State Laws Relating to Branch
Banking within United States, prepared
in Legal Division, printing and distribution authorized
Consolidations, Treasury Department bill to provide for
merger of national banking associations
and of State banks with national banking
associations, report to Bureau of the
Budget
Consumer credit, extension of authority, draft of legislation to be prepared for omnibus bill
Views of Board sent to Senator Maybank and Representative Spence
Conversion of national banks into and their merger and
consolidation with State banks, Treasury
bill re, report to Bureau of the Budget
Credit expansion, proposals to restrict, question of submission to Congress, to be discussed
further




11/2

2202

12 4
/

2353

12/14

2422

6/12

1315

1/9

82

3/6

496

3/27
4/24

682
880

5/18

1128

11/2
12/4

2202
2352

12/12

2403

7/2

1469

9/6

1880

7/26

1634

1/9

81

7/5

1490

8/7

1703

2/1

228

228
Pages
Le

gislation: (continued)
Credit restrictions, authorization by increases in reserve requirements, etc., and restraint
on credit extensions by insurance companies and other nonbank lenders, Mr.
Powell to consider studies to be made
Credit, cooperation of Treasury to be requested in seeking
legislation to restrict expansion of
bank, statement approved and ratified
Defense, proposed legislation to be submitted for inclusion in omnibus bill, Mr. Vest to prepare
drafts
Proposed legislation submitted to Office of Defense
Mobilization
Defense housing, draft of bill to assist provision of
housing and community facilities and
services required in connection with the
national defense, comments sent to Bureau
of the Budget
Meeting of Messrs. Evans, Riefler, Vest, Noyes, and
Benner with Mr. Foley to discuss relaxation of real estate credit controls
Reference by Mr. Evans of discussion of terms with
Mr. Foley
Passed by House, relaxation of Regulation X to result
from, statement of Mr. Evans
Limitations to be placed on real estate credit, statement of Mr. Evans
Defense Housing Act of 1951, statement to be published in
FRBulletin
Defense Housing and Community Facilities and Services Act
of 1951, amendments to Regulation X made
necessary by, advice to Congressman Ford
Defense Production Act of 1950:
Personnel employed under, advice to Mr. Kennedy, Federal Register
Proposed amendments, creation of additional credit
facilities not favored, advice to
Director of Office of Defense Mobilization
Draft bill of amendment to, changes in language suggested, advice to Mr. Bergson
Amendment to extend until June 30, 1953, including
control of consumer credit and real estate
credit, to be presented
Bill to extend, including authority to regulate consumer credit and real estate credit as
well as V-loan and voluntary credit
restraint programs, to be presented to
Congress
Executive Order No. 10223 (S-1287-a), statement to be
published in FRBulletin




1/30

215

3/2

475

1/9

81

1/18

1/8

144

71

7/31

1651

8/7

1696

8/16

1763

8/21

1783

9/10

1903

9/19

1968

1/12

112

3/9

550

3/23

663

3/27

683

4
/12

795

4/13

811

Le

229
Pages
gislation: (continued)
Defense Production Act of 1950: (continued)
Amendments to, letter to President of the U. S. re
provisions on real estate credit, defense
loans, and creation of additional Government agencies
4/23
Amendment to extend, statement to be prepared for
Chairman for use at hearings
4/26
Hearings on, statement for Chairman Martin to be revised
5/8
Amendments, no objection to technical assistance by
staff in preparation of
6/26
Limitations re consumer instalment and real estate
credit in bill passed by Senate and bill
reported by House Banking and Currency
Committee, discussion of request of
Chairman Maybank for relaxation of terms
7/3
of Regulation W
Extension, statement to be published in FRBulletin
7/12
Extension, effect on Regulation W, discussion of
changes to be considered when type of
legislation determined by Congress
7/17
Defense Production Act Amendments of 1951:
Amendment No. 4 to Regulation W approved to bring provisions into conformity with
7/31
Statement on consumer credit sent to Bureau of the
Budget for inclusion in President's
statement on
8/2
Defense Production Act:
Extension of, statement to be published in FRBulletin
8/13
Amendments, statement on provisions to be published in
FRBulletin
9/12
Information re Board operations sent to Chairman
Maybank of Joint Committee on Defense
Production
10/12
Drafts of amendments to facilitate defense mobilization program, reply to request of Mr.
Correa to be withheld pending further
discussion when Messrs. Evans and Powell
could be present
11/13
Amendments to extend and to continue authority over
Regulations W and X advice to Mr. Correa,
Office of Defense Mobilization
12/4
Extension, recommendations re consumer and real estate
credit regulations to be made later,
12 4
advice to Bureau of the Budget
/
Defense Production loans, extension of functions re,
advice to Office of Defense Mobilization
1/18
Executive Order providing for performance of certain defense housing and community facilities
and services functions, amencment suggested
in report to Bureau of the Budget
9/10




874
894
989
1421

1485
1544

1556

1650

1667
1733
1927

2096

2231

2346

2354
144

1901

230
Pages
Legislation: (continued)
Farm Credit Act of 1933, Department of Agriculture draft
proposal to amend re commissions on debentures sold by Central Bank for
Cooperatives, etc., report to Bureau of
the Budget
FRAct, amendments to provide financial aid to small business in normal times, suggestions sent to
Senator Robertson
FRbranch construction, not to be proposed at this session
of Congress
Removal of limitation on cost, comments of FRBanks
requested for report on legislative proposals for 1952
Bills to increase limitation on maximum cost, advice
to Bureau of the Budget
FRnotes, authority for FRBank to pay out notes of another
FRBank, to be 'proposed later
Requirements for return by FRBank of notes issued by
another FRBank, comments of FRBanks requested for report on legislative proposals for 1952
Paying out by FRBanks, elimination of requirement
desired, advice to Bureau of the Budget
Government securities, authority of FRBanks to purchase
directly from Treasury, extension desired, report to Bureau of the Budget
H. J. Resolution 307, flood disaster bill, letter to Mr.
Howse re and comments to be submitted
at meeting of Emergency Washington Committee on Flood Relief
H.R. 160 to amend section 5192 of Revised Statutes re
reserves of national banks in Territories
and possessions of U. S., report sent to
Bureau of the Budget
To amend section 5192 of Revised Statutes re reserves
of certain national banks, no objection
to enactment, report to House Banking
and Currency Committee
H.R. 324, Gold Standard Act of 1949, circular questionnaire of Representative Buffett soliciting comments, no official reply to be
made
H.R. 405 to amend Administrative Procedure Act re employment of members, etc., of Government
agencies, information sent to Congressman
Celler
H.R. 1672, for relief of Bank of America NT&SA, in connection with war loan, report to Bureau of
Budget
H.R. 2268, to authorize payment of interest on Series E
savings bonds retained after maturity, no
objection to approval, report to Bureau
of the Budget



5/18

1124

5/21

1141

1/9

82

11/2

2203

12/4

2353

1/9

82

11/2

2203

12/4

2353

12/4

2352

8/13

1729

1/24

180

2/20

410

4/5

729

5/16

1099

10/25

2158

3/16

609

231
Pages
Legislation: (continued)
H.R. 2703 and H.R. 2704, to encourage holding of savings
bonds until maturity, reply to Congress3/9
man Multer
HR. 3733, to disallow amortization deduction in renegotiation of contracts, report to Bureau of
5/14
the Budget
To disallow amortization deduction in renegotiation of
/
contracts, report to Bureau of the Budget 6 12
H.R. 3871, to amend Defense Production Act of 1950 and
for other purposes, effect on consumer
and real estate credit, statement of Mr.
6/26
Noyes, no action to be taken
4473, tax bill, statement of Mr. Schapiro filed with
H.R.
Senate Finance Committee in connection
with hearings on, discussion at Presi10/4
dents Conference
H.R. 5022, flood disaster bill, comments to be submitted
at meeting of Emergency Washington Com8/13
mittee on Flood Relief
H.R. 5278, direct loans in areas of large population
where private 4 per cent capital is not
available, report to Bureau of the Budget 10/2
H.R. 5745, to permit Federal National Mortgage Association
to make commitments to purchase certain
10/25
mortgages, report to Bureau of Budget
H.R. 9811 (H.R. 405), to amend Administrative Procedure
Act re employment of members, etc., of
Government agencies, information sent to
5/16
Congressman Celler
Industrial loans, aid for small business, draft of bill
6/6
sent to Senator Robertson
Midyear Economic Report of President, statements of suggestions for, copies to be furnished to Board
members and suggestions for changes to be
6/19
discussed at Board meeting
6/21
Revised statements approved and sent to President
to be
Omnibus bill, Mr. Vest to prepare drafts of bills
1/9
included in
of the
Program of FRSystem, reference to letter to Bureau
Budget, Messrs. Carpenter, Vest, and
Townsend to submit suggestions re pre1/2
sentation to Congress
Congress, discussion of,
Program during present session of
to be considered at each Thursday meeting
4
/12
of Board
Budget dated December 1,
Program in letter to Bureau of the
4/12
1950, outlined by Mr. Carpenter
12/4
to Bureau of the Budget
Program of FRSystem, report sent
Proposals, Congress not to consider any reaching it after
5/1
May 7, 1951




550

1050
1320

1418

2060

1729

2034

2157

1099
1260

1372
1382
81

5

793
795
2352
947

232
Pages
Legislation: (continued)
Proposals for next session of Congress, request of President for suggestions, advice to FRBanks
Proposed bill re capital requirements, reserve requirements, and FRnotes, statement by Mr.
Powell and discussion, to be considered
further after comments received from FDIC
Real estate credit, extension of authority and regulations,
draft to be prepared for inclusion in
omnibus bill
Regulation W, relaxation of terms, discussion of requests
of Senators Maybank and Ferguson, draft
of letter to be prepared
Regulation W and X, removal of restrictions on authority,
comments of FRBanks requested for report
on legislative proposals for 1952
Regulation X, authorization without limitation to new construction, advice to Office of Defense
Mobilization re proposal
Renegotiation Act of 1951, letter to Bureau of the Budget
requesting that Board not be designated
as department under
Reserve requirements:
Authority to increase, no request to be made for inclusion in omnibus bill
Loan expansion plan, draft of bill to be considered at
next meeting
Loan expansion reserve plan, discussion of draft of
bill, supplementary memo to be prepared
Supplemental, action to be deferred until task force
reports considered by Mr. Wilson's committee
Increased authority over, discussion at Presidents
Conference of loan expansion reserve plan,
memoranda re to be sent to FRBanks
Report of task force subcommittee to be submitted,
discussion of loan expansion plan and
plan for increase in primary reserves,
statement of Mr. Young on
Authority to increase, task force committee report
discussed, plan to be studied further,
to be discussed with Mr. Martin and
question of presentation to group of
bankers to be considered before final
submission to Wilson committee
Draft of second report by task force to be presented
to committee by Mr. Young for discussion
Supplemental, alternative plans, second report of
task force and views of economists discussed, Yr. Martin to take matter up with
Wilson Committee and report back to Board




11/2

4/12

2202

793

/
19

81

/
7 3

1485

11/2

2202

1/18

144

/
64

1239

/
19

81

2/27

457

3/5

487

3/8

523

3/9

563

3/15

594

3/20

618

3/27

681

4/3

716

Le

233
Pages
gislation: (continued)
Reserve requirements: (continued)
Mr. Martin to report views of Director of Office of
Defense Mobilization
4/12
Loan cxpansion plan to be discussed further, Congress
not to consider any proposed legislation
reaching it after May 7, 1951
5/1
Type and procedure for submission to Congress discussed,
no conclusion reached
5/3
Draft of loan expansion reserve plan, discussion at
Presidents Conference of need for additional authority
5/18
Revised draft of loan expansion reserve bill discussed,
staff to prepare alternative draft incorporating suggestions for further con5/22
sideration
Drafts of two bills for supplemental authority, discussion to be continued at meeting on
May 28, telegram to be sent to FRBanks
5/23
requesting comments
Additional authority re, action to be deferred on
recommendation, drafts of bills to be
5/28
studied further
6/12
Further discussions to be postponed
Changes in law, comments of FRBanks requested for report on legislative proposals for 1952
11/2
Advice to Bureau of the Budget
12/4
uection 5136 of Revised Statutes, draft of bill to amend
re securities issued by Central Bank for
Cooperatives, proposed by Department of
Agriculture, report to Bureau of the
Budget
7/19
8- 341, to amend Commodity Exchange Act, no objection to
3/15
enactment, report to Bureau of the Budget
S 349, Defense Housing and Community Facilities and
.
Services Act of 1951, hearings on, draft
of statement to be prepared for use of
2/8
Chairman McCabe or Mr. Norton
Revised statement as approved by Messrs. McCabe and
Norton to be presented as position of
2/13
Board if requested
Revised draft of statement approved after discussion
2/15
of Mr. Norton with Mr. Foley
To assist provision of housing and community facilities and services required in connection
with national defense, report to Senate
2/20
Banking and Currency Committee
Effects on real estate credit, discussion of revision
to Regulation X, Mr. Thurston to draft
8/23
statement re inflationary aspects
8/23
Report to Bureau of the Budget




796

947
967

1136

1152

1163

1195
1298
2203
2353

1589
601

270

331
348

409

1799
1802

234
Pages
Legislation: (continued)
S. 349: (continued)
Statement approved for sending to President, copy to
8/28
be sent to Bureau of the Budget
8/28
Signed by President
S. 514 and S. 515, RFC reorganization, single Administrator
and curtailment of activities favored by
/0
2 2
FAC
S. 515, to reorganize RFC, no report to be submitted until
after Senate vote on President's reorganiz4/12
ation plan
4/23
Report sent to Bureau of the Budget
Report to Chairman Maybank of Senate Banking and Cur5/18
rency Committee
S. 533, to create Small Defense Plants Corporation and to
preserve small business institutions and
free competitive enterprise, report sent
4/12
to Bureau of the Budget
.
S 614, to amend Bankhead-Jones Farm Tenant Act, report
3/26
sent to Bureau of the Budget
S. 622 (Public Law 201), to increase basic rates of compensation of certain officers and employees of Federal Government, passed by
Congress, Board to conform with provisions 10/26
S. 684, to amend Bankhead-Jones Farm Tenant Act re mortgage
6/6
loans, report to Bureau of the Budget
8/17
Report to Bureau of the Budget
S. 833, to coordinate small business activities of Government and achieve full utilization of
independent small business enterprises
in national defense program, report sent
4/12
to Bureau of the Budget
S. 994 to amend section 21 of Bankhead-Jones Farm Tenant
Act, similar to section 3 of S. 684,
6/6
report to Bureau of the Budget
S. 998, to amend Assignment of Claims Act cf 1940, and for
other purposes, enactment favored, advice
5/3
to Bureau of the Budget
.
S 1139, Hoover Commission recommendations re regulatory
agencies of Government, report sent to
4/18
Bureau of the Budget
regulatory agencies of
To change laws applicable to
Government, report sent to Senator
4/30
McClellan and Representative Dawson
.
S 1150, to provide for reorganization of Treasury Department in accordance with Hoover Commission
recommendations, report sent to Bureau of
4/23
the Budget
4/30
McClellan
Report sent to Senator
.
S 1647, guarantee of loans by FRBanks to business enterprises, enactment not favored at present,
/8
6 1
advice to Senator Maybank




1828
1831

382

790
875
1123

790
673

2161
1261
1768

790

1261

974

853

917

875
915

1357

235
Pages
Legislation: (continued)
S. 1647: (continued)
To amend Section 13b of FRAct to provide Federal Reserve Bank guarantees of loans to small
business, statement for use of Chairman
Martin at hearings and letter to Senator
Robertson approved
S. 1717, to amend and extend Defense Production Act of
1950 and Housing and Rent Act of 1947,
effect on consumer and real estate credit,
statement of Mr. Noyes, no action to be
taken
Discussion of Senate and House versions, memoranda,
to be submitted re consumer credit and
real estate credit regulation
Report to Bureau of the Budget
S. 1883, to establish Missouri Valley Authority, report
to Senate Committee on Public Works sent
to Bureau of the Budget for clearance
S. 1935, flood disaster bill, comments to be submitted at
meeting of Emergency Washington Committee on Flood Relief
S. 2006, to increase lending authority of Export-Import
Bank of Washington, approval recommended
to Bureau of the Budget
S. J. Res. 78, to make restriction of FRAct on holding
office in member bank inapplicable to
M. S. Szymczak, report to Senator Maybank
Report to Bureau of the Budget
State, proposals for, none to be submitted by Board at
Present, advice to Department of Justice
State of the Union Message and Economic Report, comments
and recommendations sent to President
Tax, recommendations to be made to Congress, views of
Board to be stated by Mr. Riefler at
meeting at Treasury
Taxation, statement of FAC re enactment of pay-as-you-go
V-loan program and voluntary agreements, draft to be prepared for inclusion in omnibus bill
War damage, draft of legislation to provide compensation
for, report to Bureau of the Budget
War Damage Restoration and Rehabilitation Act, report to
Bureau of the Budget on
Lehi E
4tner, Geo. H., Regulation W, letter to Senator Ellender
re correspondence from
oblems involving, reply to letters re
Herbert H., shortage of nickels, letter re case of
Hanover Bank, New York
Les Tr
l elley-Ford Dealer in Los Angeles, question of automobile
leasing under Regulation W, advice to
FRBank of San Francisco

Lehma%




7/3

1480

6/26

1418

7/24
7/30

1608
1642

8/28

1837

8/13

1729

9/28

2028

/1
62
8/7

1383
1700

7/27

1640

12/4

2349

1/25
2/20

191
383

1/9

81

5/23

1173

7/2

1469

1#
//
/4
5 6 1
9/7

1885

11/13

2243

236
Pages
Letters of appreciation:
Ott, H. M., Supervisor of Telegraph Section, for efficient
performance of office to be sent to, copy
to be posted on bulletin board
Letters
of credit:
Cash collateral accounts held by member banks against outstanding commercial, considered deposits
for purposes of reserve requirements,
advice to FRBanks
L
ev u, Jack, Library of Congress, material contributed by
FRSystem for pamphlet Federal Housing
Programs sent to
Library
of Congress:
Educational activities of FRBoard, information sent to Mr.
Quattlebaum
Federal Housing programs, material for inclusion in, sent
to Legislative Reference Service
Liebe_,
r, Philip, Regulation X, comments about Supplement, advice
to FRBank of Dallas re methods of computation
Breweries, Inc., Regulation X, application of clause
(5)(i) of Section 2(r) to one-story
building to be used by, advice to FRBank
of New York
Life
Insurance Association of America:
Voluntary agreements, letter to, copy sent to Mr. Sproul
Advice to FRBanks
List of material received in Secretary's Office, routine
periodic items to be omitted from
Little Rock, Arkansas:
Regulation X, effect on building in, reply to letter from
Mr. Meeks
/A3all of employees:
Ames, Edward, to assist President's Materials Policy Commission in preparation of report dealing
with Soviet orbit resources
Black, Allan M., Vice President at FRBank of Chicago, consultant to GAO, no objection to arrangement for services and fees
Dembitz, Lewis N., to State Department, advice re authorization and arrangements for trip to
London
Taffy, Florence I., service as technical adviser at Hear'
ings in Paris for ECA approved
Kriz, Miroslav A., FRBank of New York, no objection to
work with Treasury Department for assignment on part-time basis
Mendershausen, Horst, FRBank of New York, part-time
assistance to UN Secretariat in New York
City, no objection
No objection to services being available to President's
Materials Policy Commission




12/20

2473

8/6

1687

3/23

665

10/2

2039

3/23

665

10/16

2122

12/13

2412

2/5
2/7

251
266

3/2

482

6/11

1296

5/11

1030

4/26

899

1/26

202

7/20

1597

10/15

2111

4/3

720

10/23

2148

237
Pages
Loan of employees: (continued)
Moore, O. Ernest, FRBank of New York, granted leave of
absence without pay to serve United
Nations as financial adviser to Government of Haiti
Reporting to Board, letters of instruction to FRBanks to
be reviewed
from agencies in domestic and international fields
Requests
for services, no change to be made in
instructions to FRBanks re advising Board,
and present Board procedure for consideration to continue
Swan, Eliot, Acting Assistant Director of Division of
Selective Credit Regulation for six
months, FRBank of San Francisco to be
reimbursed
Reimbursement to be made to Bank, advice re
Trueblood, Lorman C., economist, special assignment with
National Production Authority approved
Von Klemperer, Alfred, by FRBank of New York to International Monetary Fund to assist in staff
study
Loatis:

3/22

643

1/25

188

6/15

1353

12/18
12/26

2.442
2485

7/12

1541

8/22

1795

Affiliates, purchase of affiliate's note, statement to be
8/13
published in FRBulletin
Amount of loans of country member banks in places with
population under 15,000, FRBanks requested to supply information for Volun4/10
tary Credit Restraint Program use
10/5
Banco de Guatemala, loan by FRBank of New York approved
Bank, change in volume during first half of 1951, to be
2/1
discussed at FAC meeting
Volume to increase during first half of 1951, state2/20
ment of FAC
Changes in volume of, discussion at meeting of FAC
9/18
of expected increase during rest of year
Banque Centrale de la Republique de Turquie, loan by
8/24
FRBank of New York approved
Cattle, changes in volume and terms, information requested
10/30
from FRBanks
to banks for
Commodity Credit Corporation interest rates
7/19
crop loans, reply to FRBank of Dallas
11/20
Expansion of, discussion at FAC meeting
Export-Import Bank of Washington:
S. 2006 to increase lending authority, favorable re9/28
port sent to Bureau of the Budget
exemption from
First National Bank in Bartlesville, Okla.,
2/16
Regulation U, reply to inquiry from
/0
22
of, statement of FAC
Government in all fields, termination
of voluntary
Government lending agencies, application
credit restraint program, discussion at
9/18
FAC meeting




1733

775
2070
235

399
1952
1819
2187
1590
2275

2028

359
383
1956

238
Pages
Loans: (continued)
Government lending agencies: (continued)
Discussion in connection with Voluntary Credit Restraint Program, statement of Mr. Powell
on
Industrial:
Advances and commitments under Section 13b, data for
confidential use to be sent to Mr.
Saulnier, National Bureau of Economic
Research, Inc., N. Y.
Application of Mr. T. F. Green, Jr., advice re
handling of
Data on industrial advances and commitments under Section 13b sent to Mr. Saulnier for use in
study
FRBank of Philadelphia, increase in activity under
Section 13b, discussion with First Vice
President Davis
Florida, letter from Mr. Green to Congressman McMullen
re difficulty in securing bank loans with
Government guarantees
General Construction Corporation, St. Petersburg, Fla.,
application for loan by Mr. Green, advice
to Senator Holland re denial
Increase in activities under Section 13b to aid small
business concerns, draft of wire to
FRBanks, matter to be considered further
Information needed by Voluntary Credit Restraint Committee, FRBanks requested to send weekly
analyses
Kansas and Missouri flood disaster, assistance for
business concerns discussed
Legislation for small business, draft of bill sent to
Senator Robertson
Participations by FRBanks under Section 13b for financing defense contractors, advice to FRBanks
Petroleum Administration for Defense, financing of
program to stockpile 75 million pounds
of TEL, procedure approved
Polk Milk Company, Cedartown, Georgia, increase in
allowance for estimated losses against,
approved for FRBank of Atlanta
Section 13b, increase in activities to aid small business man under Regulation V guarantee,
comments of FRBanks requested
13b loans in relation to loans for defense production
under V-loan program
Section 13b, place in credit situation and use in
V-loan program, discussion at Presidents
Conference
Section 13b reference to discussion at Presidents Conference in connection with credit situation and use as part of V-loan program



10/4

2061

6/11

1281

8/3

1682

9/4

1861

1/23

168

7/25

1621

6/13

1323

1/16

130

3/21

640

7/18

1568

6/6

1260

6/25

1413

/
87

1693

11/21

2294

1/23

167

9/17

1942

10/4

2049

10/15

2106

239
Pages
148as: (continued)
Industrial: (continued)
S. 1647 guarantee of loans by FRBank to business enterprises, enactment not favored at present,
advice to Senator Maybank
Statistics on commercial and, standard procedure for
collecting as shown in memo and form
FR 416a, advice to FRBanks
Small businesses in defense effort, use of 13b loans
for, topic for discussion at Presidents
Conference, advice to FRBanks
and commercial, weekly reports on, information
Industrial
re outstanding commitments and loans requested, advice to FRBanks
Mortgage funds, shortage, letter from Mr. Segal to Senator
Humphrey re change in open market policy
New York area business, discussion at FAG meeting of increase
Purchasing options to purchase stock registered on New
York Stock Exchange, subject to margin
regulations
Real estate, Bulletin No. 4 of Voluntary Credit Restraint
Committee on, letter to Senator Lodge
form Mr. Warner
RFC disaster, to be used for financial assistance to business concerns in Kansas and Missouri
floods
RFC for flooded area in Middle West, discussion of
Section 23A of FRAct:
Bank of Laguna Beach, California, purchase of note of
affiliated corporation, Laguna Beach
Securities Corporation, advice to FRBank
of San Francisco
Purchases by member banks of notes of their affiliates, classed as loans or extensions of
credit to affiliated organizations,
advice to FRBanks
S. 684, to amend Bankhead-Jones Farm Tenant Act re mortgage
loans, report to Bureau of the Budget
Report to Bureau of the Budget
S. 994 to amend section 21 of Bankhead-Jones Farm Tenant
Act, similar to section 3 of S. 684,
report to Bureau of the Budget
Survey in FRDistricts re trends, spot check approved, Mr.
Powell to work out details with Mr. Young
Veterans:
H.R. 5278, direct loans in areas of large population
where private 4 per cent capital is not
available, report to Bureau of the
Budget
Bonus issues held up, discussion at FAC meeting




6/18

1357

5/1

949

9/20

1978

5/14

1044

8/23

1807

11/20

2275

3/6

500

7/9

1510

7/18
7/24

1565
1612

7/31

1661

7/31

1662

6/6
8/17

1261
1768

6/6

1261

12/28

2509

10/2
11/20

2034
2276

240
Pages
1444s: (continued)
Veterans: (continued)
Abuse of GI credit guarantee or insurance privilege,
recommendations re restrictive action
sent to Office of Defense Mobilization
Volume, discussion at meeting of FAC with Board
Volume of bank loans during rest of year, topic for discussion at meeting of FAC
, Volume of bank, discussion of
' cation of banks:
40
Citizens Bank of Sherwood, Ore., merger with Commercial
National Bank of Hillsboro, Ore., and
Commercial Bank of Oregon, West Slope,
Ore., under title of Commercial Bank of
Oregon and located at Hillsboro, Ore.
Hadley Falls Trust Co., Holyoke, Mass., change in location of branch in Chicopee, Mass.,
approval not necessary
4/dgs, Henry Cabot, Jr., letter from Mr. Henry Warner on
Bulletin No. 4 of Voluntary Credit Restraint Committee re loans on real
estate
LO°se
-Leaf Service:
Binders for, purchase of 375 additional approved
Regulation X, distribution to FRBanks and supervisory
agencies of sets approved
Loy 14,
48-J-L Y program:
,
Federal Employees' Loyalty Program, application to officers
and employees of defense organizations at
Board, advice to Civil Service Commission
Membership, question of service of Board member or division head on, referred to Personnel
Committee
Membership and advice re persons having access to files
sent to Mr. Fred E. Busbey
141114°w, Christian C., request for data and information re
common trust funds for publication in
journal, Trusts and Estates
Common trust funds, publication of data re to be deferred
pending completion of study, advice to
Liitleheons:
Defense bond drive, expenses for dinner and luncheon
meetings, budget of Division of Administrative Services to be increased for
Illinois Bankers Association, invitation to be extended
to delegation
International Bank for Reconstruction and Development and
International Monetary Fund, directors
and officers invited to meeting and
luncheon with Board




5/15

2448
1054

9/5
12/27

1869
2492

12/7

2384

12/18

4/16

813

7/9

1510

3/14

586

4/16

814

1/30

221

7/17

1557

12/10

2393

5/10

1015

5/31

1224

9/13

1932

1/9

79

6/6

1260

241
Pages
Luncheons: (continued)
International Bank for Reconstruction and Development and
International Monetary Fund: (continued)
Officials of central banks attending Sixth Annual
Meeting of Boards of Governors luncheons
approved
Louisiana Bankers Association, invitation to be extended
to delegation
Martin, Wm. McC., Jr., approved in connection with taking
of oath of office as Board member
Mississippi Bankers Association, invitation to be extended
to delegation
Missouri Bankers Association, invitation to be extended to
delegation
Savings bond program, expenses to be paid by Board, Mr.
McDonald to be advised
State bankers associations, official delegations to be invited to luncheon during visits to
Washington
Tackett, Representative Boyd, invitation to meet with Board
to discuss consumer credit statistics
United States Chamber of Commerce, group of executives to
be invited for luncheon and discussion
during meeting in Washington on December
LiAn13 and 14, 1951, Board to pay cost
dY, H. W., Regulation W, Proposal made to Senator Ferguson
for further relaxation re automobiles
Lilster, Mrs. Mildred Louise, beauty shop operator, application approved

"Ison, Warren G., Regulation WI letter from Mr. Edward W.
Thompson re taxation of instalment payments
Mahell,
George, Regulation WI jewelry, reply to letter re
possible inclusion
Registered, handling and insurance of Post Office funds
deposited with FRBanks through use of
141.„ •
a,gin accounts:
Withdrawals from undermargined, reply to inquiry from
Mr. John A. Murphy
M
•
argln requirements:
Increase:
No action to be taken at present
Question to be discussed by Chairman McCabe with
Chairman of SEC
To 75 per cent favored by SEC, discussion of Chairman
McCabe with Mr. MacDonald
From 50 to 75 per cent approved




9/5

1870

1/9

79

3/23

666

1/9

79

1/9

79

7/19

1586

1/9
12/4

7
235:

11/28

2321

10/15

2112

10/18

2132

6/14

1341

1/3

25

10/10

2085

11/26

2303

14
/

30

1/9

78

1/11
1/16

103
125

242
Pages
Margin requirements: (continued)
Increase: (continued)
2/1
Advice to Mr. Scheuer re amendment to regulations
9/27
Not called for at present, opinion of Mr. Szymczak
Regulation T:
2/2
Reply to Mr. Irvin re application to
Section 3(a), effect on trades in old account with
one broker and new account with different broker, advice to Mr. Wilson
2/5
9/10
Amendment to, statement to be published in FRBulletin
Regulations T and U, reply to inquiry from Mr. Robert
Sterling re loan to be secured by stocks
3/6
registered on New York Stock Exchange
Report to be made at meetings of Board bi-weekly instead
4/17
of weekly
2/16
Short sales, reply to suggestion of Mr. Scheuer
Withdrawal of funds, reply to inquiry from Mr. Howard S.
2/16
Keep
Mar
Fred W., Regulation X, lease and purchase option
/0
81
agreement of firm, inquiry
MarYland Savings and Loan League:
Regulation W, necessitous home repairs, exemption suggested by Mr. Gottschalk, reply to FRBank
3/23
of Richmond
Materials Policy Commission:
Ames, Edward, to assist in preparation of report dealing
with security aspects of materials problem 5/11
aYStern & Company, Cincinnati, Ohio:
Regulation W, question of wholesale financing level, reply
3/22
to Mr. Rogers
May},
Burnet R.:
A pplications for V-loan guarantees, effect of Act of May
15, 1951, amending Assignment of Claims
6/21
Act of 1940 on, advice to
Information re operations under authority of Defense Production Act sent to Joint Committee on
10/12
Defense Production for report
re RegulaMaterial re consultations with NADA and NUCDA
4/17
tion W sent to
Regulation W:
Relaxation of terms, conversation with Chairman Martin
7/3
stating desire for
7/5
Views of Board sent to Representative Spence and
7/20
Effect on gas range industry, advice to
9/5
Letter from Mr. Layton re automobile payments
Price re resolutions of ChryslerLetter from Mr. Dick
DeSoto-Dodge-Plymouth Dealers Association,
10/23
Inc., for relaxation of terms
on retail furniture business
Regulations w and X, effects
and purchase of homes in area of Jackson,
Miss., reply to telegram from Hind's
County Retail Furniture Dealers Association 5/17




233
2016
241

248
1903

500
829
363
361
1728

656

1030

647

1392

2096
846

1485
1490
1599
1866

2149

1107

243
Pages
MaYbank, Burnet R.: (continued)
Reserve requirements, bill to be presented to Congress,
5/23
advice to
S. 515 to amend Reconstruction Finance Corporation Act,
5/18
report sent to
S. 1647) guarantee of loans by FRBanks to business enterprises, enactment not favored at present,
6/18
advice to
MaYfield, I. A., First National Bank at Orlando, Fla., application of Regulation U to loans secured
3/8
by investment trust shares
Mayo
,
James P. Regulation W, letter to Senator Tobey disput,
ing statement that good used cars can be
7/20
purchased for less than $800
Mc
Bride, John, Regulation X, applicability to loan for repair
and alteration of building on Sherman
Avenue, Coeur d'Alene, Idaho, owned by
Dr. John T. Wood as trustee for Thomson
12/7
Estate
in Oconee County,
McCallum, L. Neil, Regulation W, violations
7/18
S. C., reported by
McCarthy,
James H.
Regulation X
5/29
Application to existing houses
7/25
Reply to inquiries
McCarthy
Joseph Roy Regulation W, reply to letter from Mr.
John Allan re refusal of loan for auto1/12
mobile repairs and paying off minor bills
McClellan, John L.:
S. 1139, to change laws applicable to regulatory agencies
4/30
of Government, report sent to
S. 1150, to provide for reorganization of Treasury, report
4/30
sent to
Metaniel, Glen, Regulation W, relaxation of terms requested by
Radio-Television Manufacturers Association 6/22
McD°11ald, Bill, savings bond program, discussions re payment of
expenses for dinners and luncheons, to be
5/31
advised of Board's decision
McGm
8/2
--vern Tom, Regulation X, protest re
McKay , R. D., National Automobile Dealers Association, request
for amendment to Regulation W not approved,
3/9
advice to
, Kenneth
Regulation WY letter from Mr. Holt re effects on sales of
6/4
household appliances and television sets
Regulations W and X, statement of Mr. Dewey re effect on
market for hardwood flooring and southern
8/17
hardwoods
Regulation X and lumber prices during 1951, reply to letter
9/27
from Mr. H. C. Dewey
ar
MCKell




1165
1123

1357

527

1601

2390
1578

1211
1623

115

917
915
1403

1218
1677

554

1237

1772
2019

244
Pages
McLain, B. F., Regulation W, applicability to sales of furniture and to sales of unregulated
merchandise
McMahon, Brien, Regulation X, letter from Mr. Goodenow protesting issuance, information re purpose
sent to
McMull
Chester B.,sen, defense production loans, letter from
Mr. Green re difficulties in securing
loans in Florida
Meeks, William R., Jr., Little Rock Builders, Inc., Regulation
X, effect on building in Little Rock,
Ark., reply to letter from
Meetings:
Alternates for Board members, objection of Mr. Vardaman to
staff members service
Directors of banks, letter of FDIC re, discussion of question at meeting, statement of Mr. Powell
on
Economists of FRBanks to discuss reserve requirement,
views re alternative plans for supplemental, loan expansion reserve plan
favored
National Association of Supervisors of State Banks, meeting to be held in St. Louis, no objection
to Presidents Conference at same time and
place
Outside of Washington:
Chairmen in San Francisco, suggested by Mr. Wilbur but
not favored at present
Presidents, to be held in St. Louis with joint meeting
with Board in Washington to follow
Subcommittees of Voluntary Credit Restraint Committee, discussion of
Technicians of Central Banks of American Continent, Third
Meeting of, Federal Reserve delegation to
attend
MeMber banks.
Condition reports, tabulation of material for current loan
information to be given in advance of
other information
j
mem xaminations, to be made annually
440ership in FRSystem:
Applications:
Advice to FRBank of San Francisco re handling of those
similar to Bank of Lebanon, Oregon
Service charges imposed by OPS when nonpar banks
become embers, advice to FRBanks
Applications deferred:
Raleigh County Bank, Beckley, West Virginia, application deferred pending correction of loan
conditions subject to criticism




4/30

922

10/16

2120

7/25

1621

6/11

1296

7/24

1615

11/27

2307

4/3

718

/
6 12

1311

6/19

1365

6/19

1366

3/9

562

5/25

1185

3/7
5/23

510
1166

7/10

1520

7/25

1620

8/16

1758

245
Pages
MeMbership in FRSystem: (continued)
Anthony State Bank, Anthony, Texas:
Application approved subject to condition re paid-up
and unimpaired capital stock, additional
powers not to be exercised without
permission of Board
Granted extension of time to accomplish
Bank of Lebanon, Oregon, application approved subject to
condition re paid-up and unimpaired capital stock, advice to FRBank of San
Francisco re handling of similar applications
Broadalbin Bank, Broadalbin, New York, application approved
subject to charge-off of losses
Capital requirements:
Legislation re, Mr. Powell to discuss matter with
Comptroller of the Currency and Chairman
of FDIC
Draft of legislation presented by Mr. Powell to FDIC
and Comptroller of the Currency for study
Legislation re, discussion at Presidents Conference of
removal of provisions re reserve requirements and FRnotes and of question of FDIC
approval for deposit insurance
Admission of State member banks, comments of FRBanks
requested for report on legislative proposals for 1952
State member banks, report on draft of bill sent to
Bureau of the Budget
Conditions:
Pennsylvania Company for Banking and Trusts, Philadelphia, Penna., question of affiliate
Colonial Surety Company engaging in
insurance business and violation by
member bank of, advice to FRBank of
Philadelphia
Eligibility, banks eligible even though deposits are not
insured by FDIC, FRBanks to be advised
of case of First Trust Company of St.
Joseph, Mo.
Change Bank and Trust Company, Franklin, Pa., application approved subject to charge-off of
losses shown in report of examination
m
Granted extension of time to accomplish
f,:armers State Bank of Alpha, Illinois, application approved
'
l irst Bank of Alabaster, Alabama, application approved
subject to special condition re paid-up
and unimpaired capital stock and other
capital funds
Granted extension of time to accomplish




9/11
9/28

1920
2027

7/10

1519

4/27

901

1/9

.82

3/27

682

5/18

1128

11/2

2202

12/4

2352

3/7

509

8/20

1778

4/4
4/30
2/1

724
915
230

10/18
11/20

2135
2290

246
Pages
Ilembership in FRSystem: (continued)
First Trust Company of St. Joseph, Missouri, eligible for
membership even though deposits are not
insured by FDIC, advice to FRBanks
Houlton Trust Company, Houlton, Maine, application approved
Lane County Bank, Florence, Oregon, application approved
Matawan Bank, Matawan, New Jersey application approved
Mercantile Trust Company, St. Louis, Mo., formation by consolidation of Mercantile-Commerce Bank
and Trust Company with Mississippi Valley
Trust Company, draft of letter re to be
circulated to all Board members
To become member upon formation by consolidation of
Mercantile-Commerce Bank & Trust Company
with Mississippi Valley Trust Company,
advice to FRBank of St. Louis
Nashville State Dank, Nashville, Indiana, application
approved
Raleigh County Bank, Beckley, West Virginia, application
deferred pending correction of loan conditions subject to criticism
Application approved after receipt of additional information re correction of conditions
Rhode Island Hospital Trust Company, Providence, R. I.,
application approved, exceptions noted in
examination report to be brought into
conformity with law, retention of out-oftown branches and absorption of affiliate
Rhode Island Hospital National Bank of
Providence approved
Service charges imposed by OPS when nonpar banks are added
to par list or become members of FRSystem,
dvice to FRBank of Minneapolis
:
Sunray State Bank Sunray, Texas, application approved
subject to condition re paid-up and unimpaired capital
ilenloranda circulated to Board members for consideration prior
to meeting, copies to be supplied to Board
members
:
Irials
Met4
Booker T. Washington coins, purchase by FRBanks requested
but not approved, advice to Mr. Phillips
M 1
vt"-8 Public Housing Authority projects, application of
Amendment No. 4 of Regulation X, advice
to FRBank of St. Louis
Micha
e-L Home Equipment Company, Inc., Washington, D. C.,
violation of Regulation W
michiniunction to be issued
elman, Irving S., Regulation W, increases in consumer
credit facilities, reply re Board policy




8/20
3/13
4/17
11/13

1778
573
839
2241

8/21

1784

8/23

1806

1/24

182

8/16

1758

9/25

2000

10/19

2142

7/6

1506

6 15
/

1348

9/11

1914

7/12

1534

/
6 13

1333

2/1
5/3

232
974

2/21

425

247
Pages
Microfilm records:
International Bank for Reconstruction and Development,
FRBank of Richmond to act as agent for
storage of
Military
service:
Buckley, Thomas N., Telegraph Operator, to be re-employed
after leave if desired, but extension of
six months duty not approved
Harrison, Eugene C., clerk, granted leave without pay for
active service with U. S. Naval Reserve
Johnson, Sven, foreman of laborers, granted leave for
active duty with U. S. Naval Reserve
Kopfman, Thomas V., clerk, reinstatement and salary
approved upon return from
Martin, Raymond J., operator (duplicating devices), reinstatement and salary approved upon
return from leave
Peregory, Walter L., reinstatement as offset press
operator after return from leave
Tate, Henry, laborer, reinstatement in position upon return from
ler, J. Lester, Regulation X, inquiries re construction of
Milfarm residences
ler Homes, Inc., Regulation X, applicability to sales plan,
advice to FRBank of Chicago
Mil
ler Motor Sales, Inc., St. Louis, Mo., investigation for
violation of Regulation W, case closed
because no longer doing business
Millikin, Eugene D., Regulation WI reply to view distributed
by Philip Lesly Company for American
Finance Conference
Mimem .graph paper, conservation by printing on both sides
,
:
411Utes
Meetings of subcommittees of Voluntary Credit Restraint
Committee, discussion of
1 16souri:
/
Floods, financial assistance for business concerns, RFC
loans and FRSystem cooperation for
Mis.
' Valley Authority, report on S. 1883 for establishment
pull
Mittof,sent to Bureau of Budget for clearance
erling, Robert O., Regulation X, inquiry re secondary
borrowing after primary financing
guaranteed by VA, advice to FRBank of
Richmond
14°Ile market, discussion of
monrY
°IleY, Mike, Regulation W, appliances, suggestion of Mr.
Hinkle that used appliances be credited
Moron down payments
41
'Electric Service, Inc., Regulation X, question of proposed addition to property being subject
to, advice to FRBank of Chicago




6/22

1402

12/6

2376

11/16

2265

1/5

62

12/12

2398

12/19

2.453

81
/4

1749

11/19

2270

3/14

584

10/26

2178

8/7

1704

6/22
9/11

1403
1911

3/9

562

7/18

1565

8/28

1837

1/30
12/27

223
2492

5/11

1034

11/28

2319

248
Pages
More, John H., Regulation W, application to leasing of automobiles by Contract Automobile Rental
7/10
Co., advice to
.
11(3rg811, Robert M., invitation to become member of Voluntary
5/8
Credit Restraint Committee sent to
Chester, adviser to Chinese Ministry of Finance re
banking operaticns in Formosa, recommendation to ECA
Morse,
Wayne, Regulation W, correspondence with Mr. Woodcock
and question of split maturities for
5/17
automobiles
Loan Amounts at
14c)rtgage Bankers Association of America, Home
a Glance, review of parts of publication
pertaining to Regulation X, advice to Mr.
12/26
Frank McCabe
14°rtgage funds:
Letter from Mr. C. A. Williamson to Senator Holland on
supply of, similar replies to be sent
6/5
to other inquiries
Johnson in reply to letter
Shortage of, letter to Senator
/
6 13
of Mr. F. E. Sechler
Shortage, letter from Mr. Segal to Senator Humphrey re
8/23
in open market policy
activities:lar
Mortgage
lending
Nonfarm, collection of current information, Board willing
1/2
to undertake if desired
14ortgage8:
'
H R• 5745, to permit Federal National Mortgage Association
to make commitments to purchase certain,
10/25
report to Bureau of the Budget
Policies of Federal National Mortgage Association re
purchase and funds that insurance companies might have for investment in,
9/18
discussion at FAC meeting with Board
Regulation W, advice to Mr. Samuel E. Neel re application
12/12
to mortgage lenders
Movies:
Authorization for, discussion in connection with proposed
film of FRBank of New York, reference to
films of Cleveland and Minneapolis Banks
and by Encyclopedia Britannica Films, Inc. 12/7
Board and FRBanks„ information sent to Mr. Quattlebaum in
response to questionnaire on educational
5/18
projects and activities
CruBade for Freedom, film to be shown to employees in con9/24
nection with contributions for
for film dealing with
RBank of New York, budget item
monetary policies and problems relating to
System, Chairman Martin and Mr. Norton to
discuss matter with Mr. Sproul before
12/7
commitment




1522
1000

1105

2489

1251

1333
1807

2

2157

1954
2404

2379

1127
1992

2379

249
Pages
Movies: (continued)
Federal Reserve System, payment of sum to Encyclopaedia
Britannica Films Inc. to cover changes
approved
Abraham J., H.R. 2703 and H.R. 2704, to encourage
holding of savings bonds until maturity,
reply to letter
)
Murphy
Charles S., inter-agency committee to study China
Lobby, Mr. Solomon designated to serve
on, advice to
,
Murphy
John A., Regulation T, withdrawals from undermargined
account when short sale is covered, advice re
114rPhy, M. K. M., member of Voluntary Credit Restraint Cornmittee
MUtual
Taxicab Owners, Inc., Regulation W, request for exemption of metered taxicabs, not
justified

1/30

224

3/9

550

7/26

1630

11/26

2303

5/7

987

3/27

685

3/27
Nadlin Emanuel, Regulation W, reply to letter re credit risks
Nar,,
combination used car-new
n'Eastern, Inc., Regulation W,
8/20
car transaction, no objection to
Policy:
Nati°nal Advisory Board on Mobilization
Real estate credit, discussion of situation to be created
8/23
:
Inlz enactment of Defense Housing bill
National
Analysts,
Survey of house purchasers, additional work requested, reimbursement for extra costs for first
5/16
work and additional to be made
National Archiyes, Foreign Exchange Control Program, destruction requested, list of records at FRBank
7/27
of New York submitted to
Rational Association of Bank Auditors and Comptrollers, representatives suggested for conference on
10/15
bank defalcations
National Association of Home Builders, questions on construction and mortgage outlook, reply to
61
/4
Congressman Wickersham
Nati
()nal Association of Securities Dealers:
Voluntary agreements, letter to President, copy sent to
/
2 5
Mr. Sproul
2/7
Advice to FRBanks
NEIti
°nal Association of Supervisors of State Banks:
Annual meetings, request that Presidents Conference be
held at same time in Federal Reserve
city, no objection to meeting of Presi6/12
dents in St. Louis in September
to discuss, comments to be
Bank defalcations, conference
10/15
received by Mr. Sloan

684




1779

1799

1098

1640

2109

1343

251
266

1311
2109

250
Pages
National Association of Supervisors of State Banks: (continued)
Call report forms, change in form of State member bank
form to conform to national bank form
6/4
taken up with
representatives of, discussion
Meeting at FDIC attended by
of bank examinations, capital, directors'
11/27
meetings, etc.
by
12/6
.Taxation of banks, study favored
l'ational Automobile Dealers Association:
Consultation re Regulation W, material sent to Chairman
4/17
Maybank
Regulation W conference re problems in western section to
be discussed with representatives, advice
1/26
to Mr. Deo
transcripts of views and memoranda
Regulation W hearing,
sent to Joint Committee on Defense Pro2/9
duction
Regulation W:
Request for amendment to provide longer maturities not
3/9
approved, advice to Mr. McKay
requested before changes in, advice to
Consultations
4/20
Mr. McKay
5/31
by, reply to Mr. Deo
Relaxation of terms requested
be made at present, advice to
Terms, no relaxation to
/
6 11
Mr. Deo
ional Automobile Dealers Used Car Guide Company, copies of
12/29
Amendment No. 5 to Regulation W sent to
Nati)nal
(
Treasury bill to probanking associations, proposed
vide for mergers, no objection to, advice
7/26
to Bureau of the Budget
National banks:
Acceptances by foreign branches, reply to Mr. Robertson on
4/30
questions involving execution of
Aurora National Bank, Aurora, Ill., application for
3/16
fiduciary powers approved
Bank of America NT&SA:
9/20
Establishment of branch in London, England, approved
H.R. 1672 for relief of, in connection with V-loan
program during World War II, report to
10/25
Bureau of Budget
Bethlehem National Bank, Bethlehem,Pa., letter from Mr.
1/9
Sundberg re Regulation W
8
i8hop National Bank in Honolulu, credit for building
residence in United States subject to
Regulation X, advice to FRBank of San
5/22
Francisco
Boatmen's National Bank, St. Louis, Mo., merger of Mercantile-Commerce Bank and Trust Company
with Mississippi Valley Trust Company,
no objection to, statement of Mr. Tom K.
7/3
Smith




1236

2306
2371

846

203

314

554
865
1222
1289
2516

1634
912
607
1975

2158
86

1161

1476

251
Pages
National banks: (continued)
Braintree National Bank, Braintree, Mass., absorption by
Norfolk County Trust Company, Brookline,
Mass., and establishment of branches in
Braintree and South Braintree, Mass.,
approved
Britton & Koontz National Bank in Natchez, Miss., surrender of fiduciary powers approved
Burlington National Bank, Burlington, Wis., application
for fiduciary powers approved
Central National Bank of Mattoon, Ill., application for
fiduciary powers approved
Chase National Bank of New York, establishment of SubOffice of Stuttgart, Germany, branch in
Flak-Kaserne in Ludwigsburg, Germany,
approved
Citizens National Bank in Abilene, Texas, application for
fiduciary powers approved
Citizens National Bank of Alexandria, Va., penalty for deficiency in reserves waived
Citizens National Bank of Lubbock, Texas, application for
fiduciary powers approved
Commercial National Bank and Trust Company of New York,
proposed merger with Bankers Trust
Company of New York, discussion and
statement of Mr. Powell re
by Bankers Trust Company approved
Absorption
Condition reports:
Call as of January 4
Call as of April 9
Addition of memorandum item to Schedule A to form, inclusion in State member bank form to be
discussed further with National Association of Supervisors of State Banks
Call as of June 30, 1951
Call as of October 10, 1951
Call as of December 31, 1951
Conversion into and merger and consolidation with State
banks, Treasury bill re, report to Bureau
of the Budget
Dumont National Bank, Dumont, N. J., absorption by Tenafly
Trust Company, Tenafly, N. J.
Edwards National Bank, Edwards, New York, surrender of
fiduciary powers approved
First National Bank in Bartlesville, Okla., certain loans
not exempt from Regulation U
First National Bank of Belleville, N. J., absorption by
Fidelity Union Trust Company, Newark,
N. J., without increasing capital approved
First National Bank of Boston, Regulation W, leasing arrangement presented by, advice to FRBank




of Boston

10/29
2/6

2180
262

8/21

1788

4/4

726

3/19

614

3/12

566

12/17

2433

1/22

157

4/24
5/14

885
1046

1/2
4/9

10
747

6/4
/
73
10/17
12/28

1236
1488
2126
2512

/
87

1703

6 15
/

1349

1 15
/

118

2/16

359

3/22

645

1/5

67

252
Pages
National banks: (continued)
First National Bank of Britton, Britton Station, Oklahoma
City, Okla., granted permission to maintain same reserves as banks outside
1/19
central reserve and reserve cities
First National Bank of Clarksville, Tenn., supplementary
62
/7
application for fiduciary powers approved
First National Bank of Corbin, Ky., application for
8/21
fiduciary powers approved
First National Bank of Fort Lauderdale, Fla., application
3/15
for fiduciary powers approved
First National Bank of Frankford, Del., penalty for de9/28
ficiency in reserves waived
Kan., supplemental
First National Bank of Hutchinson,
7/18
application for fiduciary powers approved
Wisconsin, application for
First National Bank of Kenosha,
10/12
fiduciary powers approved
merger with MiddleFirst National Bank in Medford, Mass.,
sex County National Bank, Everett, Mass.,
and profits on sales of stock acquired by
Baystate Corporation, Boston, Mass., in
2/8
connection with
supplemental
First National Bank of Negaunee, Michigan,
7/17
application for fiduciary powers approved
with Bank of
First National Bank of Nutley, N. J., merger
/
Nutley, N. J., Board approval not required 6 13
from Mr.
First National Bank of Orlando, Fla., inquiry
Mayfield re application of Regulation U
to loans secured by investment trust
3/8
shares
application for
First National Bank of Palestine, Texas,
10/10
fiduciary powers approved
Michigan, surrender of
First National Bank of Petoskey,
3/1
fiduciary powers approved
transfer of TreasFirst National Bank of Portland, Ore.,
ury bonds from individual trusts to a
common trust fund in exchange for
5/10
participations therein
of Regulation F
Request for relief from provisions
7/26
because of provisions of Oregon statute
Mo., proposed merger of
First National Bank of St. Louis,
Mercantile-Commerce Bank and Trust
Company, St. Louis, and reacquisition of
shares of Mercantile-Commerce National
Bank, statement of Mr. Johns re discussions
/
73
with Messrs. Hickok and McDonnell
Carolina of Columbia, S. C.,
First National Bank of South
application for fiduciary powers withdrawn 11/16
First National Bank, Sparta, Illinois, penalty for defici8/27
ency in reserves waived




153
1438
1788
601
2027
1569
2094

278
1563
1326

527
2084
472

1023
1636

1474
2267
1823

N

253
Pages
ational banks: (continued)
First Security Bank of Idaho, National Association, Boise,
Idaho, kiting of checks by George Henry
Lane, Jr., noted in examination report
but not considered criminal violation
Frost National Bank, San Antonio, Texas, authorization for
national bank with trust powers to act as
agent for rental or sale of real estate,
reply to inquiry
Time deposit maturing 180 days after date to be treated
as maturity of six months or more
Hibernia National Bank in New Orleans, La., application to
accept drafts or bills of exchange up to
100 per cent of capital and surplus
approved
Jefferson County National Bank of Watertown, New York,
surrender of fiduciary powers approved
Laredo National Bank, Laredo, Texas, application for
fiduciary powers approved
Liberty National Bank and Trust Company, Louisville, Ky.,
financing of branch building, extension
of deadline under section 5(g) of Regulation X, not approved
Long Beach National Bank, Long Beach, Calif., absorption
by Southern Commercial and Savings Bank,
East Pasadena, Calif., establishment of
branches in connection with approved
Mercantile-Commerce National Bank, St. Louis, Mo., purchase of stock by Mercantile-Commerce
Bank and Trust Company, St. Louis, Mo.,
in connection with consolidation with
Mississippi Valley Trust Company
Request by Mr. Berger for copy of letter to MercantileCommerce Bank and Trust Company re option
to purchase, not approved
Middlesex County National Bank, Everett, Mass., basis for
computing profits on sales of stock
acquired by Baystate Corporation, Boston,
Mass., in connection with merger of bank
and First National Bank in Medford, Mass.
National Bank of Commerce, Chicago, Ill., penalty for deficiency in reserves waived
National Bank of Commerce, Memphis, Tenn., common trust
fund, establishment under Regulation F,
Board authority not required for, advice
to Mr. Brown
National Bank of Pittsburg, Kansas, application for fiduciary powers approved
National Bank and Trust Company, Chariton, Iowa, penalty
for deficiency in reserves waived




7/18

1570

2/14

341

2/20

408

3/16

607

10/30

2188

3/22

645

7/11

1527

12/17

2433

6/12

1299

7/12

1536

2/8

278

2/14

340

/8
22

465

4/4

725

1/19

151

254
Pages
National banks: (continued)
National Chautaugua County Bank of Jamestown, N. Y., meeting of stockholders postponed until decision on application of Marine Midland
Corporation for voting permit
National City Bank of New York, N. Y., establishment of
branch in San Juan, Puerto Rico, approved
Establishment of branch in Havana, Cuba, approved
Granted extension of time to establish additional
branch in Sao Paulo, Brazil
National Safety Bank and Trust Company of New York,
merger with Chemical Bank and Trust Company, New York, without increasing capital
and surplus of continuing tank approved
National State Bank, Newark, N. J., penalty for deficiency
in reserves waived
New York State, effect of changes in regulations re interest rates on deposits by State savings
banks and State commercial banks on,
advice to Mr. William A. Lyon
Niagara County National Bank and Trust Company, Lockport,
N. Y., merger with Marine Trust Company,
of Buffalo, N. Y.
North Wales National Bank, North Wales, Pa., absorption
by Montgomery Trust Company, Norristown,
Pa., and establishment of branch in
North Wales
Ouachita National Bank in Monroe, Louisiana, application
for fiduciary powers approved
Peoples National Bank of Patchogue, N. Y., shortage of
pennies, reply to Congressman Greenwood
Plymouth National Bank, Plymouth, Mass., supplemental
application for fiduciary powers approved
St. Louis, trust arrangements for holding bank stock,
opinion of Mr. Vardaman re creation
requiring approval of Comptroller of the
Currency
Security-First National Bank of Los Angeles, Calif., question re acceptance of qualified assignments as security for V-loans
Steel City National Bank of Chicago, Ill., granted permission to maintain same reserves as banks
in reserve cities
Stock Yards National Bank of Kansas City, Mo., purchase by
Commerce Trust Company, Kansas City, Mo.,
approved
Union National Bank and Trust Company of Huntingdon, Pa.,
penalty for deficiency in reserves waived
Victoria National Bank, Victoria, Texas, supplemental
application for fiduciary powers approved
Woodbridge National Bank, Woodbridge, N. J., application
for fiduciary powers approved




12/17

2426

2/15
6/21

351
1391

8/9

1720

3/9

549

3/6

500

12/19

2.456

4/11

778

12/20

2475

9/19

1965

9/7

1885

11/26

2302

7/3

1485

6/21

1391

11/28

2315

8/9

1719

9/24

1987

3/21

636

10/12

2094

255
Pages
National Bureau of Economic Research, Inc., N. Y.:
Advances and commitments under section 13b of FRAct, data
to be sent to Mr. Saulnier for confidential use
Data on industrial advances and commitments to be included
in study, letter to Mr. Saulnier
„ Study re taxation of banks, possibility of making
aational Labor Relations Board:
Examiner to conduct hearing on violations of Regulation W
by Master Tire and Supply Company,
Lawrence, Mass., services requested on
reimbursable basis
Fitzpatrick, James J., hearing examiner, services requested
for Regulation W violation case
Nati()nal
and Credit Council, report on S. 1150 to
establish
Nati)
( nal Production Authority, Department of Commerce:
PRBank of Boston, application for authorization to construct addition to building, information
re case sent to
PRBank of San Francisco, banking quarters, authorization
for alterations to building requested
IBM equipment for processing postal money orders, Defense
Order ratings for manufacture of 81
machines for FRBanks requested
Regulation X, availability of materials for nondurable
consumer goods, to be discussed by Messrs.
Riefler and Young with Mr. Fleischmann
Truebiood, Lorman C., economist, special assignment
approved with
National
Retail Credit Association:
Regulation W, liaison committee not favored by Board,
advice to FRBanks
Nat
y Resources Board:
Securit
Executive Order 10161, developments since November re
Regulations V, X, and W and voluntary
agreements, statement sent to
les,
V-10an guarantees, statements of criteria and princip
copy sent to FRBanks
Nati
-°11a1 Used Car Dealers Association:
r,i
li mendment to Regulation W, request not approved
Consultations re Regulation WI material sent to Chairman
Maybank

6/11

1281

/
94
10/15

1861
2111

9/11

1920

9/28

2028

4/30

915

3/28

692

3/7

511

5/4

978

3/20

622

7/12

1541

1/10

95

1/12

116

1/15

121

3/9

554

4/17

846

2/6
mental information, advice to Mr. Cain
to Joint ComTranscripts of views and memoranda sent
29
/
mittee on Defense Production
ion of additional
Granted extension of time for submiss
2/16
information
Nati°nal
of Amendment No.
Used Car Market Report, Inc., copies
12/29
5 to Regulation W sent to

263

Regulation W hearing:
Extension of time granted for submission of supple-




314
361
2516

256
Pages
Neel, Samuel E., Mortgage Bankers Association of America,
Washington) D. C.:
12/12
Regulation WI advice re application to mortgage lenders
Regulation X:
Maximum maturity of extensions of credit subject to,
1/25
reply to inquiry
Inquiry re rental of new house and subsequent purchase
7/11
with deposit and rent applied against
")Robert, Jr., attorney representing Mercantile-Commerce
II
Bank and Trust Company, to be informed
/
of Board's views on proposed consolidation 6 5
Neilson, Robert W., Regulation W, reply to request for ex3/20
emption re automobile contract
ePotism:
Policy of Board on employment of relatives of members of
staff to be continued but rule to be con61
/4
sidered flexible
T
'Jersey Savings and Loan League:
New l egUlatiOnS X, inquiry re application to sinking fund
x
7/6
!
York:
Interest rates, changes on deposits by State savings banks
and State commercial banks, effect on
national banks, advice to Mr. William A.
12/19
Lyon
Nicaragua:
G4rvY, George, granted leave with pay to work with International Bank in assisting Government in
10/17
program
Nichols,
C. N., Regulation N, amendment proposed to eliminate
ten per cent down payment requirement on
contracts for hone repairs or improvements,
12/13
not favored at present, advice to
Nichols,
W. H., Regulation W, reply to inquiry re purchase of
car for church work
4/11
Nob
'
) Ken, Regulations W and X, investigation of records pro4/11
tested by
sential construction and other activities, to be held
down until need for special activities
to provide employment, discussion at FAC
5/15
meeting
Nonmember banks: ,
Ba
ltimore Bank, Kansas City, Mo., Regulation W, reply to
President Buecking re terms for automo6/25
biles and question of inflation
Farmers & Merchants Bank, Wessington Springs, S. D., permission requested for substitution of
service charges in lieu of exchange
charges in order to be added to par list
of FRBank of Minneapolis, letter from Mr.
Bunday referred to Office of Price
82
/7
Stabilization




2404

197
1531

1245
630

1340
1507

2456

2125

2411
781
780

1069

1415

1824

257
Pages
Nonmember banks:
First Trust Company of St. Joseph, Missouri, eligible for
membership in FRSystem even though deposits are not insured by FDIC, advice
to FRBanks
First Trust Company of Tonawanda, N. Y., merger with
Marine Trust Company of Buffalo, N. Y.
Marine Midland Trust Company of Albion, N. Y., merger with
Marine Trust Company of Buffalo, N. Y.
Medina Trust Company, Medina, N. Y., merger with Marine
Trust Company of Buffalo, New York
Peoples State Bank of Hazel Park, Mich., consolidation
with City Bank, Detroit, Michigan
Rockford State Bank, Rockford, Mich., absorption by Union
Bank of Michigan, Grand Rapids, Mich.,
approved
State Trust Company of North Tonawanda, N. Y., merger with
Marine Trust Company of Buffalo, N. Y.
Sugar Grove Savings Banks, Sugar Grove, Pa., absorption
by Warren Bank and Trust Company, Warren,
Pa., approved
Tidioute State Bank, Tidioute, Pa., absorption by Warren
Bank and Trust Company, Warren, Pa.,
approved
Verona Trust Company, Verona, N. J., absorption by Montclair Trust Company, Montclair, N. J.,
approved
Watertown Trust Company, Watertown, Conn., merger with
Colonial Trust Company, Waterbury, Conn.,
and establishment of branch in Watertown
Woonsocket Trust Company, Woonsocket, R. I., absorption by
Rhode Island Hospital Trust Company,
Providence, R. I., approved
birkhead Auto Sales, Regulation W violations, disciplinary
conference to be held in lieu of other
action
,
NO11 4
48
' and Kenly, inquiry re application of Regulation T to
member of Midwest Stock Exchange ,
,
Norr
J-e-Thermador Corporation Employees' Savings, Profit haring and Retirement Fund Agreement, not
exempt under section 5(i) of Regulation
X, advice to FRBank of San Francisco
111111) Aircraft, amendment to guarantee agreement not
approved for
11(3rthwest
Publishing Company, copies of Amendment No. 5 to
thItter
Regulation W sent to
) C. Armel, Regulation W, application to mortgage
lenders questioned by




8/20

1778

4/11

778

4/11

778

4/11

778

12/26

2486

6/25

1411

4/11

778

12/26

2486

12/26

2486

8/31

1850

5/28

1197

11/15

2261

6/13

1328

/0
1 3

221

7/19

1595

4/3

722

12/29

2516

12/12

2404

258
Pages
1101I

kk

Ridge, Tenn., proposed commercial center, question of
application of Regulation X, advice to
12/7
FRBank of Atlanta
Office of
Attorney General:
business advisory committees, utilization and conduct of
since enactment of Defense Production
Act of 1950, reply to letter from Mr.
4/11
Morison re complaints
letter from Acting
Voluntary Credit Restraint Program,
Attorney General approving Request,
question of releasing to lending insti4/5
tutions for inspection
Voluntary Credit Restraint Program, amendments approved,
copies of new Request sent to Attorney
4/5
General and FTC for approval
Voluntary Credit Restraint Program as amended, finding,
and Request approved, advice to Mr.
4/20
McGrath
°frice of Defense Mobilization:
Assignment of Claims Act, amendment to, to be supported by
2/13
Assignment of Claims Act of 1940, amendment to, urgent
need for to be discussed by Chairman
2/27
McCabe with Mr.ideinberg
on
Defense Mobilization Order No. 6, Regional Committees
Defense Mobilization, participation by
FRSystem, Presidents of FRBanks desig9/19
nated for discussions
Defense Production Act of 1950, proposed amendments,
creation of additional credit facilities
3/9
not favored, advice to Mr. Wilson
Draft bill to amend, changes in language suggested,
3/23
advice to Mr. Bergson
to facilitate defense mobilizaDrafts of amendments
tion program, reply to request of Mr.
Correa to be withheld pending further
discussion when Messrs. Evans and Powell
11/13
could be present
Amendments to extend and to continue authority over
Regulations W and X, advice to Mr. Correa 12/4
F
looded area in Middle West, relief for and restoration of
general economy, letter in reply to memo
7/24
of Mr. Wilson approved
Industry advisory committees, conduct in Board, advice to
7/12
Mr. Wilson
48160as-Mi5souri flood disaster rehabilitation, status
report and comments on disaster bills
8/13
sent to Mr. Howse
L •
to discuss, Board to submit
egislation, meeting held
1/9
drafts for inclusion in omnibus bill




2388

782

730

732

871
328

445

1967

550
663

2231
2346

1611
1543

1729
81

259
Pages
lIce of Defense Mobilization: (continued)
Ci
Legislation, defense, proposals submitted to
McDonnell Aircraft Corporation v. Commissioner of Internal
Revenue, question of appeal by Bureau of
Internal Revenue of decision of Tax
Court, advice to Mr. Smithies
Regulation X, revision approved subject to clearance with
Director of
Objection to inclusion of provision re defense housing
Availability of manpower and materials for construction of residential units in 1952, advice
requested from Mr. Wilson
Report for first half of February submitted to Joint Committee on Defense Production re Board's
activities, copy sent to Mr. Wilson
S. 1717, to amend and extend Defense Production Act of
1950, discussion of Senate and House
versions, memoranda to be submitted re
consumer credit and real estate credit
regulation
Task forces to be appointed by Mr. Wilson to make reports
to committee on control of private credit,
reserve requirements, and stabilization
of market for public securities
Veterans business loans, abuse of GI credit guarantee or
insurance privilege, recommendations re
sent to
Voluntary Credit Restraint Committee, Mr. Powell to maintain liaison between, advice to Mr.
Wilson
Wilson, C. E., to be invited to meet with Board to discuss selective credit regulation and
voluntary credit restraint program
411.
.
,
,` e of Price Stabilization:
kattle situation, study re in connection with credit, discussion at FAG meeting
Calling price regulation No. 34, letter to FRBanks on
application to service charges by banks
Ceiling Price Regulation No. 94, ceiling prices for used
automobiles approved
Farraers and Merchants Bank, Wessington Springs, S. D., permission requested for substitution of
service charges in lieu of exchange
charges in order to be added to par list
of FRBank of Minneapolis, letter from Mr.
Bunday referred to Mr. DiSalle
Restaurant operated by Board, information supplied in
compliance with Sec. 4 of Ceiling Price
Regulation No. 11




1/18

144

6/26

1428

1/4

29

1/5

37

8/3

1685

2/21

428

7/24

1608

1/8

524

12/18

2448

5/24

1176

4/10

757

11/20

2279

7/25

1620

12/20

2461

82
/7

1824

4/11

786

260
Pages
of Price Stabilization: (continued)
Service charges imposed when nonpar banks are added to par
list or become members of FRSystem,
advice to FRBank of Minneapolis
°Oen Auto Mart, Inc., Chicago, Ill., Regulation W violations,
order directing investigation
OIL
earY, Dr. James J., appointment as alternate member of
Voluntary Credit Restraint Committee for
Mr. Carrol M. Shanks
°Peri market
operations:
Management of Government securities market, discussion at
meeting of FAC in connection with credit
control policies during next six months
Market depreciation in account, question of handling, to
be studied by Messrs. Powell and Norton
Reserves, discussion at FAC meeting of means to provide
additional
Thomas, Woodlief, report on
Report on developments
'amortized premium on 2-3/4 per cent bonds, Investment
Series B-1975-80, action to be deferred
and no charge-off to be made in second
quarter of year, FRBanks to be advised
Action deferred pending further study
Or
A. Harris Motor Sales, Pittsburgh, Pa., order directing
investigation and designating officers
to take testimony in Regulation W case
Aldon Construction Company, Inc., Belleville, N. J.,
Regulation W violations, order directing
investigation
Alexander
Max, d.b.a. National Clothing and Furniture
Company, Baltimore, Md., order directing
investigation for Regulation W violation
Allan
Gordon and Eli Temkin, Partners d.b.a. National
Stores, order directing investigation of
Regulation W violations
Andrew C. Cain, William C. Cain and Lee Bing, (d.b.a.,
Dixie Sewing Dealers), order directing
investigation of Regulation W violations approved
Atlas Furniture Company, Detroit, Mich., hegulation W
violations, order direction investigation issued
Atlas Sew
-Vac Stores, Inc., Houston, Texas, order
directing investigation of Regulation W
investigations
Atlas
T.V. Stores, Inc., Houston, Texas, Regulation W
violations, order directing investigation
8°gda Motor Company, Inc., Indianapolis, Ind., directing
investigation and designating officers
to take testimony in Regulation W case




7/6

1506

3/20

625

11/28

2313

5/15

1054

3/27

680

9/18
1/9
9/11

1948
83
1915

6/28
7/3

1450
1478

1/30

212

8/23

1811

5/17

1111

8/22

1797

8/8

1711

5/10

1024

5/16

1093

5/16

1094

1/30

214

261
Pages
°I7del
is: (continued)
O. A. Tindall, d.b.a. C. A. Tindall & Company, Memphis,
Tenn., order for investigation of
12/11
Regulation X violations approved
Contractors Roofing and Siding Corporation, Nutley,
N. J., Regulation lAr violations, order
8/23
directing investigation
Duke Randall Motors, Inc., San Pedro, California, Regulation W violation, order directing investigation and designating officers to
2/19
take testimony
4
ecutive Order No. 10223, designation of Atomic Energy
3/15
Commission as guaranteeing agency
Fifth Avenue Motor Sales, Inc., of Columbus, Ohio, Regulation W violation, order directing
investigation and designating officers
1/2
to take testimony approved
Fireside Finance Company, order directing investigation
4/17
of Regulation W violations
Gould Investment Company, Beverly Hills, Calif., order
directing investigation for Regulation X
violation
5/8
H. Bartels, Inc., Philadelphia, Pa., Regulation W violations, order for proceedings and notice
5/28
of hearing approved
Supplemental and amended order for proceedings and
notice of hearing pursuant to section
8(b) of Regulation Vr, Consumer Credit,
7/19
approved
Order granting respondent's request for oral argument re violations of RegulationW
11/13
approved
Order resetting date for oral argument (January 4,
1952) for Regulation W violations
11/21
approved
c Herman Bryan (d.b.a. Hamric Motor Sales), Regulation W„ order directing investigation
4/17
of violations
Herb Black, d.b.a. Television Service Center, Cincinnati,
Ohio, issuance of order suspending
license for violations of Regulation W
10/26
approved
Order for proceedings re violations of Regulation
11/1h
approved
, Order suspending license approved
e
11/11.1
n rbert Sweren and Arnold L. Schwartz, a partnership,
d.b.a. Arnold Sales Company, order
directing investigation for Regulation W
violation
5/17
inois Improvement Company, Peoria, Ill., Regulation W
violations, order directing investigation
issued
5/10




2395
1812

37h
602

7
822

996

1202

1592

2234

2296

82h

2167
2248
2250

1109

1026

262
Pages
orders: (continued)
Jack Vane, d.b.a. Vane's United Phonograph Co., Charleston,
S. C., order directing investigation of
9/21
Regulation W violations
James E. Semmons, d.b.a. Semmons Furniture Company,
Columbia, Mo., Regulation W violations,
9/6
order directing investigation
James Wilson, Robert Green, d.b.a. Green Motor Sales,
Detroit, Mich., and Leonard J. Green,
d.b.a. Magic Motors, Pontiac, Mich.,
issuance of order for investigation of
12/27
Regulation W violations
Lange, Walter L., (d.b.a. Lange Television Sales), order
directing investigation for Regulation W
violation, further report to be made to
determine reference to Department of
5/1
Justice
Lisle, P. C., (d.b.a. Lisle Motor Company), order direct4/17
ing investigation
Louis Master and Morris Master, d.b.a. Master Tire and
Supply Co., Lawrence, Mass., order for
proceedings and notice of hearing re
10/4
Regulation W violations
11/13
Order suspending license under Regulation V approved
marvin A. Smith Company, Dallas, Texas, Regulation W,
order directing investigation and desig3/5
nating officers to take testimony
McCamey and Guy Motor Sales, Regulation WI order directing
4/17
investigation of violations
Michael Home Equipment Company, Inc., order directing in3/13
vestigation of Regulation W violations
Miller Motor Sales, Inc., St. Louis, Mo., Regulation W
violations, order directing investigation
and designating officers to take testimony 5/24
Norm Birkhead Auto Sales, Evansville, Ind., order directing
investigation and designating officers to
2/19
take testimony re Regulation W violation
°gden Auto Mart, Inc., Chicago, Ill., order directing in3/20
vestigation of Regulation W violations
Plichcih, George M., (d.b.a. Reliable Used Car Company),
order directing investigation of Regula4/17
tion W violations
Public Loan Corporation, order directing investigation of
4/17
Regulation W violations
R. B
B. Brown, d.b.a. Sylvan Radio and Television Company,
Washington, D. C., order directing in5/17
vestigation for Regulation W violation
a°bert A. Burns, d.b.a. Bush-Burns Realtors, St. Louis,
Mo., order directing investigation
6/13
approved
4berts Motor Company, Evansville, Ind., Regulation W violation, order directing investigation and
2/19
designating officers to take testimony



1984

1878

2501

940
823

2065
2236

489
826

579
1180

377
625

827
821

1115

1330

376

263
Pages
131rderS: (continued)
Rosen Home Equipment Company, Inc., Baltimore, Md., order
directing investigation for Regulation
5/17
W violation
Beloit, Wis., Regulation W violaRoYi s Appliance Company,
tions, order directing investigation and
designating officers to take testimony
1/25
approved
Sam Kay (doing business as Arkansas Home Building and Repairing), order directing investigation
4/10
for Regulation W violations
Texas Mortgage Company, Houston, Texas, order directing
9/27
investigation of Regulation X violations
Transamerica Corporation case:
Statement and order on Respondent's request for adequate time to examine and reply to
exhibits, proposed findings, and brief
filed by Solicitor, referred to Hearing
4/12
Officer
Officer to file recomExtension of time for Hearing
4/17
mended decision
and briefs
Order fixing time for filing exceptions
5/15
approved
request for oral argument
Order granting respondent's
and motion for additional time to file
and brief exceptions and objections,
6/19
approved
to dismiss,
Statement and order on Respondent's motion
request for oral argument granted at time
of final hearing and request that Board
obtain legal advice through Government
9/25
channels denied
Order extending time for filing reply briefs and
9/25
setting time for oral argument approved
(4.40n.
Statute regarding collateral security pledged to secure
trust funds, reply to FRBank of San
7/26
Francisco on provisions of Regulation F
T e
teaching activities:
business and
411e, James H., Economist, status to be changed from
'
employee to consultant since receiving
12/18
remuneration from University of Chicago
Review of reports on certain members of staff discussed
12/18

1113

184

769
2023

789
819
1078

1362

1994
1997

1636

2442
2A42

tptt

P404
cab, Kentucky, as defense area under Regulation X, letter
to Mr. W. P. Allen
eDefense area designation and schedule of terms approved
n2 J. Lawrence, appointment as alternate for Mr. Limbert
on Voluntary Credit Restraint Committee

N




22
/
2/27

243
449

6/13

1323

264
Pages
Paley, William S., services of Mr. Ames to assist in preparation of report dealing with Soviet orbit
resources approved, advice to
Pakistan:
Rice, Morgan H., services in connection with assistance
to, arrangement to be approved for one
year, advice to State Department
41. list:
Farmers and Merchants Bank, Wessinger Springs, South
Dakota, desire to substitute service
charges for exchange charges in order
to be listed
Reprinting as of October 1951 approved, advice to FRBanks
Service charges imposed by OPS when nonpar banks are added
to par list or become members of FRSystem,
advice to FRBank of Minneapolis
Advice to FRBanks
PA
-rades:
Authority to Director of Personnel Administration to excuse staff to attend
Par.
"guaY Mission approved for Mr. Olson, Mr. Grove to assist
if necessary, advice to Sr. R. Mendez
Paiva, Minister of Finance
Proposed terms and conditions, advice to Sr. R. Mendez
Paiva, Minister of Finance
147
, ice to Mr. Olson re arrangements and travel expenses
1
,
4-seignment of Mr. Grove approved
Advice to Mr. Grove re assignment and expenses
Conclusion of assignment of Mr. Olson and stopovers enroute to Washington approved
Report of Messrs. Grove and Olson on mission to assist in
preparation of central banking legislation
--mount Motors, San Francisco:
Regulation W, credit extended to automobile purchasers for
Park,,gasoline, oil, tires and repairs
°Y Dwight K., Regulation W, refrigerators, modification
of terms during summer months requested
Nt
61-11, Wright, Chairman of subcommittee on credit control
and debt management:
hearings to be held, advice to FRBanks re preparation of
material
Material requested to be sent informally after being sub
milted to Board
RePlles
•
to questionnaire being prepared, review by SecreNtse
tary
Y G. J., Regulation W, letter to Senator Thye re auto,
mobile payments by newly ordained clergymen
°11 deduction to be made monthly for hospitalization and
surgical services




5/11

1030

9/20

1976

8/27
8/16

1824
1765

7/6

1506

7/25

1620

4/17

836

3/20

623

3/22
3/28
4/11

690

643

4/17

787
838

6 12
/

1313

9/4

1858

4/9

753

5/4

980

4/12

802

4/24

887

5/1

944

9/5

1867

6/4

1235

265
Pages
Fort, Joel B., Jr., Vice President and Manager at Nashville Branch, payment for accrued
vacation leave at time of death not
approved
P 3111.e, Clare W., Regulation W, discrimination against people
in lower income groups in purchase of
automobiles claimed
Pazos
Felipe, President, Banco Nacional de Cuba, Federal
Reserve delegation to attend Third Meeting of Technicians of Central Banks of
American Continent, advice to
Pearson Lovick B., Regulation X, letter re
Motor Sales, Columbus, Ohio:
Regulation W, inquiry re change to be made in terms for
automobile sales and control of jewelry
sales
411-n5y1vania
:
Defalcations, embezzlements in western, discussion of
publicity re at meeting in Harrisburg,
PetPa.,statement of Mr. Sloan
rcleum Administration for Defense:
Financing of program to stockpile for use of Armed Forces
75 million pounds of TEL, procedure
approved, Mr. Thorp to be advised
co Corporation:
Regulation W, trade-ins, discussion with representatives
of
Phial
P Lesly Company, Regulation W, view distributed for
American Finance Conference, reply to
Senator Millikin
' Leon J., Pres., Motor Securities Company, Inc.,
Is,
Shreveport, La., Regulation W, letter to
Congressman Brooks on down payments for
used automobiles
P1117,.
4'ical examinations:
FREank employees, prospective, to be paid by Board when
made by Board's doctor
PIA
-cards:
Voluntary Credit Restraint Program, preparation and distribution of placard approved
Plfr,(111es
-:
M°rrill, Chester, to be placed in Special library, wording approved
eel') David, Regulation W, letter to Congressman Greenwood
on electrical appliance business
"oy actions:
Statement of Mr. Vardaman that policy actions should not
be taken without quorum present
record, Board of Governors:
-rLft of entries for 1950 approved




12/4

2336

4/12

798

5/25
5/18

1185
1122

6/11

1287

11 2
/7

2309

87
/

1693

9/11

1915

6/22

1403

6/19

1376

10/12

2098

4/5

735

8 1
/7

1766

6/11

1285

8/7

1692

5/10

1024

266
Pages
p°11,cY record, Board of Governors: (continued)
Regulation A, amendment approved
Regulation F, amendments approved
Regulations T and U, amendment to supplement to increase
margin requirements
Regulation W:
Amendment No. 2 approved
Amendment No. 3 approved
Amendment No. 4 approved
Amendment No. 5 approved
Amendment No. 6 approved
Regulation X:
As amended effective January 12, 1951
As amended effective February 15, 1951, approved
Amendment approved
Amendment No. 2 approved
Amendment No. 3 approved
Amendment No. 4 approved
Amendment No. 5 approved
Amendment No. 6 approved
Amendment No. 7 approved
, Amendment No. 8 approved
otatement to Treasury re discount rate, recuest for cooperation in seeking supplemental legislation to restrict expansion of bank
credit, and joint statement for press by
Secretary of the Treasury and Chairman
of Board, approval and ratification
Voluntary Credit Pestraint Program approved
Amendment to
Poll
' record, Federal Open Market Committee:
cY
poi.raft of entries for 1950 approved
lcY statements:
Mergers or absorptions requiring consent of Board, advice
to FRBanks
teal activities:
NA /3 111eY, Henry J., FRBank of New York, no objection to
4,
affiliations:
mstrong, Frederick Palmer, Class A director of FRBank of
New York, no objection to service as
Commissioner of Port of New York Authority
ICEnsas City Board of Election Commissioners, resignation of
attorney necessary before appointment as
Counsel for FRBank of Kansas City, Mr.
Vest to discuss question with Mr. Leedy
Kreisi
e Magnus J., no objection to service as member of
board of trustees of tvansville State
Hospital and as Class A director of
FRBank of St. Louis
?olk,
L., and Company, subscription for semimonthly reporting service for sales of new passenger
cars, for last half of 1951




3/21
2/5

637
252

1/16

127

2/21
5/15
7/31
12/20
12/27

419
1079
1647
2462
2498

1/5
2/9
2 2
/7
3/15
3/29
4/10
5/3
8/28
11/13
12/20

38
283
446
589
695
766
966
1829
2238
2467

3/2
3/9
4/20

474
868

5/10

1024

9/11

1905

1/12

111

9/25

1998

8/2

1668

10/23

2147

8/6

1690

534

267
Pages
Pollak, M. A., Regulation X, valuation of residences, advice
11/8
to FRBank of Chicago re statements of
Post Office Department:
Funds deposited with FRBanks and branches through use of
registered mail, report of Presidents
10/10
Conference approved, advice to
Post office funds deposited with FRBanks and branches
through use of registered mail, handling
and insurance, letter from Mr. Pearson,
copy sent to Mr. Peyton for comments of
6 27
/
Presidents
Postal money orders, issuance, reimbursement to FRBanks
for cost of work, adjustment in rate to
be made after first year, advice to Post6/27
master General Donaldson
Postal money orders:
IBM equipment for processing, Defense Order ratings for
manufacture of 81 machines for FRBanks
requested
5/4
Issuance and collection, procedure and amendments to provisions of cash collection circulars and
time schedules approved, advice to FRBanks 6/11
Issuance, reimbursement to FRBanks for cost of work, adjustment in rate after first year to be made,
Po
6/27
advice to Postmaster General
(311, Norris, Regulation VI, longer maturities for automobile
credits where freight differentials are
6/12
larger suggested
Pratt,
Lester, C. P. A., name suggested for conference on bank
10/15
defalcations
e°1dent of the United States:
Defense Housing and Community Facilities and Services Act
of 1951, discussion of recommendation for
8/23
veto
I3efense Production Act:
Amendments to, letter re provisions sent to
4/23
Amendments of 1951, statement on consumer credit sent
to Bureau of the Budget for inclusion in
8/2
statement of
41ergency proclamation covering banking situation, Federal
bank supervisory agencies to make joint
/
12 7
study, Mr. Powell to represent Board
?ederal Open Market Committee meeting with, criticism of
Mr. Vardaman of Chairman and impression
2/6
left after
Mend
ershausen, Horst, FRBank of New York, no objection to
services being available to Materials
10/23
Policy Commission
Mi
-year Economic Report:
Statements of suggestions for, copies to be furnished
to Board members and suggestions for
changes to be discussed at Board meeting
6/19




2220

2085

1441

1441

978

1277

1441
1316
2109

1800
874

1667

2382

255

2148

1372

268
Pages

esident

of the United States: (continued)
Midyear Economic Report: (continued)
Revised statements approved and sent for inclusion in
S• 349, Defense Housing and Community Facilities and
Services Act of 1951, statement approved
to be sent to, copy to be sent to Bureau
of the Budget
State of Union Message and Economic Report for 1952:
Special presidential messages and legislative proposals
for next session of Congress, statement of
suggestions requested, advice to FRBanks
Comments and recommendations sent
Treasury financing:
Discussion of question following meeting with FOMC with
Question of means to combat inflation discussed with,
reference of Chairman McCabe to, at meeting of FAC
ss statements:
A. Harris Motor Sales, issuance of injunction for violations
of Regulation W, copy sent to FRBanks and
Branches
Bogda Motor Company, Inc., judgment against for violation of
Regulation W, copies sent to FRBanks
bt-management and monetary policies, agreement reached
by Treasury and Board, statement approved
and ratified
nlIke Randall Motors, Inc., San Pedro, Calif., judgment
against for Regulation W violations, text
sent to FRBanks and Branches
Earnings and expenses of FRBanks for 1950, advice to
FRBanks
Pleeson, Doris, article in Washington Evening Star re
discussion at executive session of FOMC
on January 31, discussion of source of
information
Ma•
rgln requirements, increase from 50 to 75 per cent
approved
Marv,-Ln A. Smith Company, Dallas, Texas, violation of Regulation W, issuance of injunction against
°gcten Auto Mart, Inc., Chicago, Ill., Regulation W violations, issuance of injunction
•
Publle
debt management and Treasury financing, statement
recommended in memorandum by Mr. Vardaman
r,
/1_5.LuatI0 n T, Amendment No. 11, text sent to FRBanks
Ulat1OnW:
Amenament No. 2, leasing arrangements adopted
A mendment No. 3, to be sent to FRBanks
Amendment No. 4, approved, statement to be sent to
FRBanks and amended Regulation to be
reprinted and distributed
Amenament No. 5 adopted, statement to be issued
Amendment No. 6, delisting older model automobiles,
issuance of




6/21

1382

8/28

1828

11/2
12/4

2202
2349

2/6

258

2/20

397

2/23

434

2/15

353

3/2

475

2/26

441

11/4

34

2/6

256

1/16

128

/
39

555

3/30

711

1/30
8/28

218
1835

2/21
5/15

420
1079

7/31
12/20

1650
2462

12/27

21498

PI
'ess statements: (continued)
Regulation W: (continued)
Fifth Avenue Motors, Inc., judgment against, advice
to FRBanks re issuance
1/18
RoylE Appliance Company, judgment against, advice to
FRBanks
2/2
Television sales, requests for modification of requirements not approved
5/10
Trade-ins, text sent to FRBanks
9/7
Regulation X:
As amended effective January 12, 1951
1/5
As amended effective February 15, 1951
2/9
Amendment as to defense construction areas, to be
released in form satisfactory to Mr.Norton 2/27
Amendment No. 3, to be sent to FRBanks for printing and
distribution
3/29
Amendment No. 4 approved, oopies to be sent to FRBanks
4/10
Not to be issued, advice to FRBanks
4/12
Amendment No. 5 approved, release to be sent to FRBanks
for printing and distribution
5/3
Amendment No. 6, to be issued in form agreed upon by
Mr. Evans and Mr. Foley
8/28
Amendment No. 8 approved, statement to be issued
12 2
/0
Registration statement, issuance approved, public
statement to be made
3/29
To be issued if relaxation of terms approved and joint
conference to be held with Ni'. Foley
present
8/9
Reierson,
Roy L. Special Consultant to Mr. Powell, release
re appointment
9/10
Vardaman, J. K., Jr., distribution of statement at Board
expense not authorized
2/6
loans by privately-owned banks in U. S. from September
1950 to July 31, 1951, statement re
amount
9/11
Voluntary agreements, to be issued after establishment of
Committee
3/5
V
°I-Lntary Credit Restraint Program:
Copies sent to all financing institutions
3/9
Bulletins, oopies to be sent to Board members prior to
release for statement of any objections
6/12
-Y condition statement of FRBanks, statement on
exchanges of Treasury bonds for Treasury
Pllee
notes to be included in
7/12
Dick, Regulation 14, resolutions of Chrysler-DeSoto-DodgePlymouth Dealers Association, Inc., for
Price
relaxation of terms
10/23
GwilYn A., Westinghouse Electric Corporation, Regulation W, trade-ins as down payment, invitaPrice,
tion to meeting for discussion
9/4
Melvin, Regulation X, reply to letter from Mr. William A.
Cochran re terms
2/12




269
Pages

146
242
1019
1889
60
309
449
696
767
802
966
1831
2467
698

1718
1900
254

1921
486
546
1313

1533

2149

1855
324

270
Pages
Price, Waterhouse & Company:
. Leave policy of Board, recommendation re not approved
11-est, J. Percy, Regulation 14T, complaint by Mr. Len Herndon
'
re enforcement methods
Pr
inceton University, Trustees of:
Regulation X, questions re, advice to FRBank of Philadelphia
iorities
for materials, machine equipment, etc., Division
of Bank Operations to assist in Washington, to be under supervision of
Mr. Myrick or Mr. Farrell as alternate,
advice to FRBanks
Prcicluction credit associations, loans to member-farmers, status
under Regulation 1AT
Protection of records, emergency plans for Board's Minutes and
other records
-4ent15l Life Insurance Company of America:
Regulation X, replytio inquiry re applicability to case
where proceeds of loan are to be used in
part for new construction
Regulation X, leasing arrangements subject to
Regulation X, applicability to loan for repair and alteration of building on Sherman Avenue,
Coeur d'Alene, Idaho, owned by Dr. John T.
Wood as Trustee for Thomson Estate

5/15

1081

8/17

1769

4/19

861

4/2

714

6/5

1253

4/17

833

2/28
6/11

468
1296

12 7
/

ABA booklet to be published by special committee on
policies of commercial banks re invest5/29
ments in municipal bonds
Board of Governors, information re sent to Mr. Quattlebaum
in response to questionnaire on educational
5/18
projects and activities
Branch banking, compilation of State laws re, statement to
be published in FRBulletin
/
12 7
Co
mpilation of Federal and State Laws Relating to Branch
Banking within United States, prepared
in Legal Division, printing and distri9/6
bution authorized
Development of Bank Debits and Clearings and Their Use
in Economic Analysis, by George Garvy,
publication, distribution, and cost
7/5
approved
Change between Board and USSR, survey of arrangements
4
12/18
sent to Department of Justice
xPenditures by FRBanks and Board, discussion of review
of subject matter and possible survey
by person outside System, but no mn5/10
elusions reached
Fed
eral Housing Programs, contribution of FRSystem to
pamphlet, material sent to Library of
3/23
Congress
?R}3ank8, agricultural research activities, material distributed, Personnel Committee and Mr.
Powell to study matter
5/10



2390

1213

1126
2391

1880

1502
2448

1011

665

1012

Putaications:
(continued)
FRSystem--Its Purposes and Functions, reprinting of 50,000
paper-bound copies authorized
Home Loan Amounts at a Glance, review of parts pertaining
to Regulation X, advice to Mr. Frank
McCabe, Mortgage Bankers Association of
America
How Commercial Banks are Affected by Federal Taxation, by
Morris A. Schapiro, discussion at
Presidents Conference
New York Times, article re letter from FOMC to President
of the U. S., discussion at FAC meeting
N ewsletters, to be placed upon receipt in binders in
Special Library for use of Board Members
instead of being circulated
Pamphlet in connection with group life insurance contract,
name of firm of Towers, Perrin, Forster
and Crosby not to be mentioned in
Par list, letter to FRBanks to submit changes for reprinting
Patman Subcommittee, material included in replies to
questionnaire, suggestion of Mr. Evans
to incorporate in System publication,
referred to Messrs. Powell, Thurston and
Young
R. L. Polk and Company,
Detroit, Michigan Semimonthly
reporting service for sales of new
passenger cars in 12 cities, subscription
to be continued for last half of 1951
Trusts and Estates, request of Mr. Luhnow for data and
information on common trust funds for
publication in
Common trust funds, publication of data to be deferred
pending study re, advice to Mr. Luhnow
Washington Letter of National Association of Home Builders,
questions on construction and mortgage
outlook, reply to Congressman Wickersham
Pilerto R4
--co, mission to be directed by Mr. Leonard, advice to
Governor Mann
4
anch of National City Bank of New York, use of armored
trucks by, Board's delegation to develop
further information, advice to Comptroller
of the Currency
Mission to, to consist of Messrs. Leonard, Solomon, Koch,
and Crosse
Mission, authorization to Messrs. Leonard, Solomon, and
Koch for trip and expenses
Mission,
reimbursement to members of study group to cover
certain items approved
s .
slcn, expenses, assumption of certain by FRBank of
New York approved
'wlarles G. Regulation W, effects on electrical appliance sales, further observations on




271
Pages

3/1

473

12/26

2489

10/h

2060

2/20

397

7/24

1610

12/4

2359

8/16

1765

12/28

2509

8/6

1690

5/10

1015

5/31

1224

6 14
/

1343

7/26

1625

7/31

1662

9/17

1945

10/18

2134

11/20

2291

11/26

2302

6/6

1268

272
Pages
Nft
Quattlebaum, Charles A., educational projects and activities
of Board, reply to questionnaire on
laestionnaires
g:
Buffett, Howard H., circular soliciting comments re H. R.
324, Gold Standard Act of 1949, no
official reply to be made by Board
Educational activities of Board, reply to Mr. Quattlebaum
Patman subcommittee, status of material being prepared for,
statement of Mr. Carpenter
Topic for discussion at Presidents Conference
Expenses of Board or FRBanks, information requested
from FRBanks for
Copies of questionnaires and answers to be sent to
Federal Advisory Council when in final
form
Procedure of FRBanks for answering, discussion at
Presidents Conference
Appointment of group of consultants and compensation
approved
Consultants appointed to assist in replies to
Further information re questions on expenses, advice
to FRBanks
Topic for discussion at FAC meeting
Discussion at FAC meeting of answers to, drafts to
be sent to members of Council for comments
Hearing, date and number of witnesses for, statement
of Chairman Martin at meeting of FAC
Suggestion of Mr. Evans that material included in
replies be incorporated in System publication, referred to Messrs. Powell,
Thurston, and Young
T
axation of banks, study of effect of excess profits
taxes on capital position, approved,
advice to FRBanks re
Winn
'Hugh, Regulation 14, application to sewer connection
problem as presented by
T, Vincent, Regulation W, application to sewer connection problem as presented by Councilman Quinn of New York City

5/18

1125

4
/5
5/18

729
1125

5/1
9/5

1870

9/12

1925

9/18

1946

944

10/4

2055

10/15
10/19

2103
2140

10/23
11/8

2150
2218

11/20

2280

11/20

2280

12/28

2509

12/6

2370

5/14

1047

5/14

1047

8/7

1692

7/31

1645

6/22

1403

BO

ard meetings, policy actions not to be taken without,
statement of Hr. Vardaman
Regulation lqr, amendments not to be acted upon in absence
of, statement of Mr. Vardaman on

evision Manufacturers Association, Regulation rAT,
relaxation of terms requested by




273
Pages

Acceptances, bankers:
Minimum buying rate, FRBanks of Cleveland and San
Francisco, increase, no action to be
taken on, adoption of currently effective
buying rates same as New York schedule
favored by Board, question to be discussed
at Presidents Conference
Minimum buying rate, procedure to leave unchanged and
to adopt schedule of effective buying
rates to conform to New York schedule, to
be discussed at Presidents Conference
Regulation of FOMC giving FRBanks authority to purchase, statement of Secretary re procedure
CQTTnodity Credit Corporation interest rates to banks for
crop loans, reply to FRBank of Dallas
Discount: (See infra Rediscount)
wRBank of Atlanta:
Acceptances, bankers, increase in buying rates
Resale agreement, minimum rate approved
Schedules approved:

12/28

2505

12/28

2508

12 2
/8

2505

7/19

1590

12/28
10/26
1/12
1/26
2/9
2/23

2507
2171
111
200
311
429

3/9
3/23
46
/
4/20
5/4
5/18
61
/
b/15
b/29
7/13
7/27
8/10
8/24
9/7
9/21
10/5
10/19
10/26

533
653
745
863
975
1119
1226
1347
1460
1545
1638
1725
1817
1882
1980
20(9
2137
2171

11/2

PRB
ank of Boston:
Resale agreement, minimum rate approved




2200

11/16
11/30
12 14
/
12 28
/

2265
2327
2414
2508

10/17

2127

274
Pages
(continued)
FRBank of Boston: (continued)
Schedules approved

1/12
1/26
2/9
2/23

111
200
311
429

3/9
3/23
4/6
4/20
5/4
5/18
6/1
6 15
/
6 29
/
7/13
7/27
8/10
8/24

533
653
745
863
975
1119

9/7
9/21
10/5

10/17
11/2
11/16
11/30
12/14
12/28

1226

1347
1460
1545
1638
1725
1817
1882
1980

2069
2127
2200

2265
2327
2414
2408

PRBank of Chicago:
Acceptances, bankers, increase in buying rates
Discount, increase, question to be raised at meeting of directors, statement of Mr.
Szymczak re telephone call from Mr. Young
Resale agreement, minimum rate approwA
Schedules approved:




12 28
/

2507

12/20
10/19

2460
2137

1/5
1/12
1 19
/
1/26
2/2
2/16
2/23
3/2
3/9
3/16
3/23
3/30
4/6
4/13
4/20

62
111
149
200
236
355
429
476
533
604
653
708
745
804
863

4/27

900

5/4
5/11

975
1029

275
Pages

Rates: (continued)
FRBank of Chicago: (continued)
Schedules approved: (continued)
5/18

1119

5/25

1183

6/11
6 15
/
6/22
6 29
/

1275
1347
1399
1460

7/13
7/20
7/27
8
/3

1545
1596
1638

8/10
8 17
/
8/24
8/31
9/7
9/14
9/21
9/28
10/5
10/12
10/19
10/26
11/2
11/8
11/16
11/30
12/7
12 14
/
12/28
* RBank of Cleveland:
Acceptances, bankers, minimum buying rate, increase,
no action to be taken on, adoption of
currently effective buying rates same
as New York schedule favored by Board
Resale agreement, minimum rate approved
Schedules approved:




1679
1725
1766
1817
1848
1882
1933
1980
2025
2069
2091
2137
2170
2200
2215
2265
2327
2383
2414
2508

12 28
/
10/26
1/12
1/19
1/26
2/9
2/23

2505
2170
111
149
200
311
429

3/9
3/23
4/6
4/13
4/27
5
/4
5/11
5/25

533
653
745
804
900
975
1029

6 11
/

1183
1275

276
Pages
Rates: (continued)
FRBank of Cleveland: (continued)
Schedules approved: (continued)

1347
1460

7/13
7/27
8/10
8 24
/
9/7
9/14
9/28
10/12
1426
11/8
11/23
/
12 7
12/14
FRBank of Dallas:
Schedules approved:

6 15
/
6/22

1545
1638
1725
1817
1882
1933
2025
2091
2170
2215
2298
2383
2414

1/12
1/26

111

2/9

200
311

2/23
3/9
3/23
4/6
4/13
4/27
5/11
5/25
6/11
6 15
/
6/29
7/13
7/27
8 10
/
8/24

429
533
653
745
804
900
1029
1183
1275
1347
1460
1545
1638
1725
1817

9/7

Pliliank of Kansas City:
Schedules approved:




1882

9/14
9/28
10/12
1o/26
11/8
11/23
12/7
12/14
12/28

1933
2025
2091
2170
2215
2298
2383
2414
2508

1/5
1/19
2/2
2/9
2/23

62
149
236
311
1429

Rates: (continued)
FRBank of Kansas City: (continued)
Schedules approved: (continued)

277
Pages




533
604
708
804
900

5/4
5/11
5/25

PRBank of Minneapolis:
Schedules approved:

3/9
3/16
3/30
4/13
4/27

975
1029

61
/1
6 15
/
6/29
7/13
7/27
8/3
8/10
8/24
9/7
9/21
10/5
10/19
11/2
11/8
11/23
11/30
12 14
/
12/28

1183
1275
1347
1460
1545
1638
1679
1725
1817
1882
1980
2069
2137
2200
2215
2298
2327
2414
2508

1/12
1/26
29
/
2/23
3/9
3/23
4/6
4/13
4/27
5/11
5/25
6/11

111
200
311
429
533
653
745
804
900
1029
1183
1275

6 15
/
6/29
7/13
7/2o
7/27
8/10
8/24
9/7

1347
11460
1545
1596
1638
1725
1817

9/14
9/28

1882
1933
2025

278
Pages
RaUs: (continued)
FRBank of Minneapolis : (continued)
Schedules approved: (continued)

10/12
10/26
11/8
/
11 23
12/7
12 14
/

2091
2170
2215
2298
2383
2414

12
/28

2508

FRBank of New York:
Acceptances, bankers:
Increase in currently effective buying rates and
12/28
for repurchase agreements
12/28
Purchase and fixing of rate by
Resale agreement, minimum rate on purchases of Government securities of not more than 1P per
cent below average issuing rate on most
recent issue of three-month Treasury
10/12
bills approved, advice to FRBanks
1/5
Schedules approved:
1/12
1/19
1 6
/2
2/2
2/9




2 16
/
3/2
39
/
3/16
3/23
4/6
4/13
4/20
4/27
5/4
5/18
5/25
6/11
6 15
/
6/22

62
/9
7/6
7/13
7/20
7/27
8/3
8/10
8 17
/
8/24
9/7
9/14
9/21

2506
2506

2091
62
111
149
200
236
311

355
476
533
604
653
745
8o4
863
900
975
1119
1183
1275
13147
1399
1460
1504
15)45
1596
1638
1679
1725
1766
1817
1882
1933
1980

279
Pages
44 ft: (continued)
"
FRBank of New York: (continued)
Schedules approved: (continued)

PRBank of Philadelphia:
Resale agreement, minimum rate approved
Schedules approved

10/5
10/12
10/19
10/26
11/2
11/8
11/16
11/30
12/7
12/14
12/21

2069
2091
2137
2170
2200
2215
2265
2327
2383
2414
2481

10/19
1/5
1/19
2/2
2/16
3/2
3/16
3/23
4/6
4/20
5/18
5/25
6/11
6/22
7/6
7/20
8/3
8/17
8 24
/
9/7
9/21
10/5
10/19
11/2
11/16
11/23
12/7
12/21

2137
62
149
236
355
476
604
653
745
863
975
1119
1183
1275
1399
1504
1596
1679
1766
1817
1882
1980
2069
2137
2200
2265
2298
2383
2481

1/12
1/26
2/9
2/23
3/9
3/23
4/6
4/13

111
200
311
429
533
653
745
804

54
/

111Bank of Richmond:
Schedules approved:




118Us: (continued)
FRBank of Richmond: (continued)
Schedules approved: (continued)

FRBank of St. Louis:
Schedules approved:




280
Pages
4/27
5/11
5/25
6/11
6 15
/
6/29
7/13
7/27
8/10
8/24
9/7
9/14
9/28
10/12
10/26
11/8
11/23
12/7
12/14
12 28
/

900
1029
1183
1275
1347
1460
1545
1638
1725
1817
1882
1933
2025
2091
2170
2215
2298
2383
2414
2508

1/5
1/12
1/19
1/26
2/2
2/9
2/23
3/2
3/9
3/16
3/23
3/30
4/6
4/13
4/20
4/27
5/4
5/11
5/18
5/25
6/1
6/11
6 15
/
6/22
6/29
7/13
7/2o
7/27
8/3
8 10
/
8/17

62
111
149
200
236
311
429
476
533
604
653
708
745
8014
863
900
975
1029
1119
1183
1226
1275
1347
1399
1460
1545
1596
1638
1679
1725
1766

281
Pages
(continued)
FRBank of St. Louis : (continued)
Schedules approved: (continued)

Rat :
"

8
/24
8/31
9/7
9/14
9/21
9/28
10/5
10/12
10/26
11/2
11/8
11/23
11/30
12/7
12/14
12/21
12/28

1817
1848
1882
1933
1980
2025
2069
2091
2170
2200
2215
2298
2327
2383
2414
2481
2508

FRBank of San Francisco:
Acceptances, bankers, minimum buying rate, increase, no
action to be taken on, adoption of currently effective buying rates same as New
York schedule favored by Board
12/28
Schedules approved:
1/5
1/19
1/26
2/2
2/9
2/16
3/2
3/9
3/16
3/23
3/30
4/6
4/13
/2
4 0
4/27
5/11
5/25
6/1
6/11
6/15
6/22
6/29
7/6
7/13
7/20
7/27
8/3

2505
62
149
200
236
311
355
476
533
604
653
708
745
804
863
900
1029
1183
1226
1275
1347
1399
1460
1504




1545
1596
1638
1679

Rates: (continued)
FRBank of San Francisco: (continued)
Schedules approved: (continued)

282
Pages

8/10
8/17
8 24
/
8/31
9/7
9/14
9/21
9/28

1725
1766
1817
1848
1882
1933
1980
2025

10/5
10/12

2069
2091

10/19
10/26
11/2

2337
2170

11/8
11/16
11/23

11/30
12/14
12/21

Government securities, long-term issues,
adoption of higher
rate as in England and Canada as means of
solving problem of Treasury financing,
discussion at FAC meeting
11/20
Interest:
Changes in New York State on deposits by State savings
banks and State commercial banks, effect
on national banks, advice to Mr. William A.
Lyon
12/19
Funds withdrawn from Retirement System, change in rate
discussed, matter to be deferred until
return of Mr. Vardaman and discussion of
investment procedure
10/26
Rates on time deposits under Regulation Q, advice to
Mr. Cecil R. Berry
11/23
Small changes not effective on volume of loans,
0
statement of PAC
2/20
LlIttern, FAC not in favor of fixed, discussion of price
on long-term restricted bonds
2/20
Redi
-scount:
No change to be made during year without prior consultation with Treasury, statement to Treasury
approved and ratified
3/2
Increase not favored by FAC, discussion at meeting with
Board
5/15
Increase, FAC opposed to immediate
9/18
1),„
si e Changes at present not favored by FAC
11/20
,state.

2200
2215
2265

2298
2327
2414
2481

2288

2456

2172
2299
383
385

474
1054
1948
2274

National
•
bank with trust powers, authorization to act as




agent for rental or sale or, inquiry from
Frost National Bank, San Antonio, Texas

2/14

341

Reel estate: (continued)
Study of developments being made by interdepartmental
committee of Government agencies, summary
to be prepared for use of Board

283
Pages

7/17

1557

IlecePtions:
Hilkert, Robert N., Acting Director of Division of Personnel
Administration, informal reception approved
before return to FRBank of Philadelphia
5/28
Martin, WM. McC., Jr., oath of office, costs for luncheon,
reception, etc., in connection with approved 3/23
ilec!cCabe, Thomas B., arrangements and cost approved
3/23
v2struction Finance Corporation:
uisaster loans, existing authority to be enlarged to handle
flood situation in Kansas and Missouri and
FRSystem to cooperate, Mr. Wilson to be
advised of Board's views
7/18
DisPosal of preferred stock and debentures of banks now
held by, no objection to program for
10/24
Flooded areas in Middle
West, financial assistance for,
discussion of disaster loans by
7/24
Reorganization, effects of S. 514 and S. 515 discussed at
FAC meeting, single Administrator and curtailment of activities favored
2/20
'515, to reorganize, no report to be submitted until after
S
Senate vote on President's reorganization
plan
4/12
Report sent to Bureau of the Budget
4/23
Report to Chairman Maybank of Senate Banking and Currency committee
5/18
3/23
Record k equipment, purchase approved
and Statistical Corporation:
i'lPies of Amendment No. 5 to Regulation W sent to
12/29
PPraisal guides, reply to letter from Mr. Meffley on
Red
designation
3/9
3/12
lkegiTss, appeal to be presented on Board's time in cafeteria
6 -ration certificates, Regulation X, reasons and instructions for issuing
6/1
atio
A: ns, Board of Governors:
Amendment to exempt defense loans from negotiability
requirement approved, advice to FRBanks
Amendment to be published in FRBulletin
DePosits, Cash collateral accounts held by member banks
against outstanding commercial letters of
credit considered as for purposes of reserve requirements, advice to FRBanks
P
:

3/21
4/13

1207

666
666

1565
2154
1612

382

790
875
1123

666
2516

553
571
1230

637

811

8/6

1687

2/5

252

Amendment to increase limitation on investments in common




trust funds and amendments to Footnotes 11
and 14 approved, supply of revised regulation to be sent to FRBanks

Re

284
Pages
glaations, Board of Governors: (continued)
: (continued)
Amendments re trust powers of national banks, statement
to be published in FRBulletin
Common trust fund, establishment, advice to National
Bank of Commerce, Memphis, Tenn.
Difference between provisions of, and Oregon statute regarding collateral security
Fidelity-Philadelphia Trust Company, Philadelphia, Pa.,
services as agent for banks and trust
companies in administration of common trust
funds not prohibited by
Leave: (See infra Leave)

2/12

326

2/28

465

7/26

1636

1/23

174

1/29

209

8/15

1750

11/28

2317

9/7

1887

11/23

2299

12/19

2456

1/10

96

2/20

408

6/11

1282

3/9

558

N:

R:

Negotiations by FRBank of New York with Government of
Japan on opening of account authorized
Amendment to permit member banks to pay interest on savings deposits received during first ten
days of calendar month, comments of FRBanks
and information re general practices in
Districts requested
Amendment of Section 3(d) not favored at present by all
FRBanks, no objection to proposed member
bank computation of interest payments,
advice to FRBank of San Francisco
Indirect payment of interest on demand deposits, question of violation by national bank, advice
to Comptroller of the Currency
rates on time deposits, advice to Mr. Cecil R.
Interest
Berry
Interest rates, changes in New York on deposits by State
savings banks and State commercial banks,
effect on national banks, advice to Mr.
William A. Lyon
Time deposits:
Amendment to agreements to provide for 90 days'
notice of withdrawal and interest at 1-1/4
per cent, not in violation of, advice to
FRBank of San Francisco
No objection to payment of interest at rate not exceeding 2-1/2 per cent on deposit maturing
180 days after date, advice to Frost National Bank of San Antonio, Texas
Inconsistency in definitions of types, to be considered when revision of regulation occurs,
advice to FRBank of New York
Amendment re interlocking relationships between member
banks and open-end investment companies,
comments of FRBanks to be requested




285
Pages
Regulations, Board of Governors: (continued)
R: (continued)
Amendment re interlocking relationships involving openend investment trusts, comments of FRBanks
requested
Amendment to exclude open-end investment companies, not
to be made, advice to FRBanks
T:
Amendment to increase margin requirements, to be considered at later meeting
Amendment to supplement to increase margin requirements
from 50 to 75 per cent approved
Amended Supplement and introductory statement to be published in FRBulletin
Amendment to relax restrictions on capital contribution
loans, views of FRBanks requested
Amendment No. 11 approved
Amendment to, statement to be published in FRBulletin
Bishop Trust Company, member of Honolulu Stock Exchange,
loans to be arranged in accordance with
supplement to, advice to Mr. J. Russell
Cades
Chesapeake and Ohio Railway Company, application to
Employee's Stock Purchase Plan, advice to
Mr. Wheeler
Credit unions, application to arrangement for members
of union to purchase registered securities
of employer, similar to case of Detroit
Edison Emp1oyee0 Credit Union, advice to
FRBank of Chicago
Dividends, 1951 on Long Bell Lumber Company Class A
Common not subject to section 6(g)(3),
advice to FRBank of San Francisco
Extensions of time granted by committee of national
securities exchange in exceptional circumstances, reply to letter from Mr. John
Witter
Margin accounts, withdrawals from undermargined, advice
to Mr. John A. Murphy
Margin requirements, reply to Mr. Irvin on application
Midwest Stock Exchange:
Application to member registered and acting as
specialist in registered securities,
advice to FRBank of Chicago
Designation under section 4(g), inquiry re requirements as to specialist's reports, advice
to FRBank of Chicago
Payment of interest or dividends from special subscription account under section 4(h),
advice to Mr. Norman Freehling




3/20

628

5/14

1047

1/4

30

1/16

127

1/23

173

5/11
8/28
9/10

1031
1833
1903

4/17

839

/7
81

1769

11/13

2242

12/13

2410

9/24

1988

11/26
2/2

2303
241

1/30

221

3/13

573

7/23

1604

•
R
egulations, Board of Governors: (continued)
T: (continued)
Records, requests for extensions of time under section
4 preservation not required after twoyear period, advice to FRBank of San
Francisco re files of Los Angeles Stock
12/5
Exchange
Section 3(a), effect on trades in old account with one
broker and new account with different
2/5
broker
Warrants to expire within 90 days, section 4(h) not
3/12
applicable to, advice to FRBank of Chicago
Ttavel: (See infra Travel)
U:
Amendment to increase margin requirements, to be con1/4
sidered at later meeting
Amendment to supplement to increase margin requirements
1/16
from 50 to 75 per cent approved
Amended supplement and introductory statement to be
1/23
published in FRBulletin
American Gas and Electric Company, purchase of stock
through additional subscription privilege,
application of section 3(p), advice to
6/11
FRBank of New York
Credit unions, application to arrangement for members
of union to purchase registered securities
of employer, similar to case of Detroit
Edison Employees' Credit Union, advice to
11/13
FRBank of Chicago
First National Bank in Bartlesville, Okla., reply to
2/16
inquiry re exemption of loans
Interpretation sent to FRBanks, to be published in
12/28
FRBulletin and Federal Register
Loans secured by investment trust share, inquiry from
Mr. Mayfield of First National Bank at
3/8
Orlando, Fla., re applicability of
V:
Applications:
Guarantees, procedure for listing numbersof prime
contracts, further advice from Department
of Army sent to FRBanks
Loans, memo from Mr. Vardaman at meeting of FAG
Navy guarantee, procedure for forwarding copies to
Board, advice to FRBanks
V-loan guarantees, effect of Act of May 15, 1951,
amending Assignment of Claims Act of 1940
on, advice to Senator Maybank
Financial statements of all proposed guarantors to
be submitted with, FRBanks advised re
ruling of Department of Air Force
Loans, reports of investigation to include data on
number of employees of borrower, advice
to FRBanks



286
Pages

2364

248
567

30
127
173

1282

2242
359
2514

527

4/25
5/15

891
1064

6/6

1262

6/21

1392

7/10

1521

9/21

1982

Re
gulations Board of Governors: (continued)
V: (continued)
Applications: (continued)
Loans, delays in processing, question of discussion by FAC with representative of
Department of Defense
Authority of FRBanks to approve loans, resolution of
Commission on Small Business for
California recommending
Borrowers, compensation paid to executives of, memo
from Department of Defense sent to FRBanks
Borrowings from financing institution outside proposed
V-loan, memo from Defense Department re
cases where loan agreement permits, advice
to FRBanks
Commitment fees:
Computation on undisbursed portion of loan, comments of Department of Army requested on
proposed letter to FRBanks
Loan by California Bank of Los Angeles to Acme
Electronics, Inc., to accrue from date
of execution of agreement, advice to
FRBank of San Francisco
/
Not to exceed 1 2 of 1 per cent per annum of average daily unused balance of maximum
principal amount of credit, advice to
FRBanks
Covenants for assignments of Government contracts as
collateral for V-loans, procedure for,
advice to FRBank of Chicago
Defense production subcontracts, qualifications imposed
by purchasers in connection with assignments, copy of memo from Department of
Defense sent to FRBanks and advice re requested
Developments, statement sent to National Security Resources Board
Disbursements and collections, copies of certificate of
deposit to be sent to Accounting Officer
for transmittal to Disbursing Officer,
advice to FRBanks on procedure
Extension of authority, draft of legislation to be prepared for inclusion in omnibus bill
Fees and interest rates:
Guaranteed loans, comments of FRBanks requested
Schedule of, no change to be made at present following receipt of comments from FRBanks, but
matter to be studied further, advice to
Congressman Celler
Schedule, no change to be made at present, advice
to Congressman Celler




287
Pages

/
11 8

2218

6/11

1284

5/3

973

4/27

902

9/10

1902

5/28

1204

10/4

2065

3/6

501

7/3

1489

1/12

116

7/11

1528

1/9

81

2/15

351

3/22

646

4/11

779

Re

&lotions, Board of Governors: (continued)
V: (continued)
Forms 577 and 579, copies and instructions sent to
3/12
FRBanks
statements of criteria and principles from
Guarantees,
National Security Resources Board, copy
1/15
sent to FRBanks
Guarantee agreement:
Amendment to standard form approved, advice to
1/16
FRBanks
to FRBanks
25
/
Procedure to be followed, advice
letter to FRBanks, comInterpretation in proposed
ments from Departments of Commerce,
Interior, and Agriculture and General
3/12
Services Administration requested
Amendment for use of Northrup Aircraft not approved,
advice to FRBank of San Francisco
4/3
Changes in standard form, views of Department of
Army, Navy, Commerce, Agriculture, and
Interior, General Services Administration,
4/30
and Atomic Energy Commission requested
Guarantee fees:
Comments of FRBanks to be requested before consideration of change in maximum interest
2/13
rate and schedule of
Computation to be from date of execution of guarantee agreement, advice to FRBank of San
6/7
Francisco
Revised schedule suggested by Mr. Larson, comments
of guaranteeing agencies to be requested
before reply, letter to Department of Army
62
/8
and other agencies
Extension of effective time of Army, Navy, and Air
7/18
Force authorizations, advice to FRBanks
Revised schedule for construction of industrial
facilities, adoption not approved, advice
7/31
to Mr. Larson
H.R. 1672, for relief of Bank of America NT&SA, report
10/25
to Bureau of Budget
Ideal Tool and Laboratory Company of Cheyenne, eligibility for financing of defense contracts,
application of American National Bank of
Cheyenne for guarantee of loan to be
transmitted to defense agency upon receipt,
1/
2 5
advice to Senator Hunt
Information re guaranteed loan program sent to Senator
5/21
Johnson
Interest on advance payments to defense production contractors, advice to FRBanks
4/17
Kansas and Missouri floods, discussion of means for
handling financial assistance for business
7/18
concerns




288
Pages

568

121

134
250

567
722

921

327

1274

1446
1571

1663
2158

2363
1144
845

1566

Re
gulations, Board of Governors: (continued)
V: (continued)
Legislation to provide for extension of functions re,
advice to Office of Defense Mobilization
Loans, amount and maturity, memo from Department of
Defense on guiding principles sent to
FRBanks
Acceptance of qualified assignments as security for,
advice to FRBank of San Francisco
Guaranteed by Military Departments, memo from Office of Assistant Secretary of Defense re
procedure for effecting increases in amount
or changes in terms and conditions, advice
to FRBanks
Practices and procedures of FRBanks in establishment
and supervision of, narrative descriptions
to be furnished to Department of Defense,
advice to FRBanks
100 per cent guarantees by agencies, policy re not
formulated, advice to Secretary of the
Interior
Program, policy statements re certain questions, advice
to FRBanks
Topic for discussion at meeting of FAG
Delays in processing applications, discussion at
FAG meeting of means for avoiding
Quality Electric Co., Ltd., loan guaranteed by Department of the Army, information sent to
General Mickelwait
Reimbursement of expenses in connection with program
advice to FRBank of San Francisco re
procedure
Termination fees, prohibition approved subject to consultation with guaranteeing agencies

289
Pages

11
/8

144

5/3

973

/1
62

1391

9/6

1878

11/20

2292

3/20

631

4/17
9/5

843
1869

9/18

1959

1/19

153

3/7

511

1/16

131

/2
62
Administration, letter from Mr. Trueman to Senator Thye
of memo of Messrs.
Administration by FRSystem, discussion
Young and Noyes by Board members and Mr.
12/4
Fisher
outside economists to
Administration, employment of
appraise problem suggested by Mr. Vardaman,
matter referred to Chairman Martin and Mr.
12/4
Powell
does not
Air conditioners, room unit, classification
include units of 2 horsepower or more
4/25
rated capacity, advice to FRBanks
published in
Air conditioners (W-144), statement to be
5/11
FRBulletin
2/21
Amendment No. 2, leasing arrangements, approved
Memoranda for confidential background information
3/2
sent to FRBanks

1405




2339

2360

891
1039
419
478

Re

290
Pages
&Illations, Board of Governors: (continued)
W: (continued)
Amendments: (continued)
No. 2: (continued)
Summary of interpretations and amendment sent
to FRBanks
No. 3 re disaster credits and certain rentals
approved
No. 3 and statement re to be published in FRBulletin
To be determined after decision of Congress on extension of Defense Production Act of 1950
No. 4 approved, to become effective as soon as
Defense Production Act Amendments of 1951
signed by President
Statement to be published in FRBulletin
To exempt pre-1946 model automobiles, staff to survey FRBanks and hold consultations with
trades
To exempt older model automobiles proposed, notice
sent to Federal Register
To exempt automobiles produced prior to 1946 models,
views of FRBanks re, recommendation to be
submitted to Board
Calculation of down payment and maximum loan value
for listed articles proposed, notice sent
to Federal Register
Proposed by Mr. Nichols to eliminate 10 per cent
down payment requirement on contracts for
home repairs or improvements, not advisable at present, advice to Mr. Nichols
No. 5, used car schedule, approved
No. 5, elimination of appraisal guide values,
copies sent to Recording and Statistical
Corporation, and other publishing companies
No. 6, delisting 1942 and older model automobiles,
approved
Amount and timing of instalment payments, letter from
Mr. B. G. Goslin to Congressman Shafer
Appliances:
Trade-in as down payment on sale of, reply to
Senator Sparkman re petition from citizens of Jackson, Miss.
Television sets, letter to Representative Wolverton
from Mrs. Rennis re down payments
Suggestion of Mr. Hinkle that used appliances be
credited on down payments
House furnishings sales, question of trade-ins on
as presented by Mr, Hinkle
Increase in down payment and elimination or liberalization of maturity requirement, letter to
Mr. Sproul on suggestions of Messrs. Corbin
and Cowan




3/7

512

5/15
5/17

1079
1116

7/17

1556

7/31
8/13

1647
1733

10/30

2184

11/1

2199

11/13

2240

11 2
/8

2320

12/13
12/20

2411
2462

12/29

2516

12/27

2498

10/19

2141

3/19

616

5/1

949

5/11

1034

5/14

1048

5/16

1095

Re

291
Pages
Wations, Board of Governors: (continued)
W: (continued)
Appliances: (continued)
Change to allow trade-ins on sales as down payment,
advice to U. S. Appliance Company, South
River, N. J.
Television sets, letter from Mr. Holt to Senator
McKellar, similar replies to be sent to
other inquiries
Business, letter from Mr. Plesser to Congressman
Greenwood
Protest of Mr. George Kaye to Congressman Hunter
re down payment requirement
Appraisal guides:
Red Book, National Used Car Market Report and Blue
Book Executives Edition published by
National Used Car Market Report, Inc.,
amendment to designation, advice to FRBanks
Statement to be published in FRBulletin
Retail values for 1951 used models, advice re date
of inclusion requested from publishers
Designation for Part 4 of Supplement, advice to
FRBanks and to publishers
Designation of March and January issues approved for
price ceiling regulation, advice to FRBanks
Designation until June 30, 1951, letter to Mr. S. F.
D. Meffley
Designation limited to editions and reprints
approved by OPS, advice to FRBanks
Value of used cars, addition of value for radio and
heater not to be made for computation of
maximum loan value, advice to FRBanks
(W-139), statement to be published in FRBulletin
Estimate of up-to-date, current average retail
values to be published, but at present
values to be based on prices approved by
OPS, advice to FRBanks
Authority:
Amendments to Defense Production Act to eliminate
restrictions sent to Office of Defense
Mobilization
Removal of restrictions of Defense Production Act
Amendment of 1951, comments of FRBanks requested for report on legislative proposals for 1952
Removal of limitation on, favored by FAC at appropriate time
Automobiles:
Dealers from Virginia, meeting at Senator Robertson's office attended by Mr. Evans
Financing, advice to Mr. R. F. Campbell




5/18

1120

6/4

1237

6/11

1285

8/8

1709

2/1
2/12

231
326

2/19

380

22
/3

433

3/8

527

3/9

553

3/30

711

4/13
4/13

810
811

5/24

1181

12/4

2347

11/2

2202

9/18

1952

2/21
4/18

415
853

292
Pages
Re

glaations, Board of Governors: (continued)
W: (continued)
Automobiles: (continued)
Leasing firm, advice to FRBank of San Francisco re
applicability to
Leasing, reply to FRBank of Chicago on inquiry from
Detroit Branch
Leasing transactions, inquiry from Mr. Burman,
President, Williams Rent-A-Car Company of
Detroit, advice to FRBank of Chicago
Leasing arrangements proposed by Contra Costa
County Schools, Martinez, Calif., advice
to FRBank of San Francisco
Lease program, inquiry from Mr. Roger E. Joseph for
Minneapolis dealer, advice to FRBank of
Minneapolis
Leasing arrangements, meeting at Board of Messrs.
Cotter and Rothscbmitt to discuss suggested
amendment
Leasing, question presented by Les Kelley-Ford
Dealer in Los Angeles, advice to FRBank of
San Francisco
Leasing problem, discussion of amendment to solve,
in connection with T & E Company, Inc.
Payments, letter to Senator Maybank from Mr. Layton
Rental company, credit to finance purchase of automobiles to be leased, exempt from, advice
to FRBank of Dallas
Sales, effect on Hudson Motor Car Company, Detroit,
advice to Mr. Barit
Sales, reply to letters from Mr. Burger re effect on
Sales to persons of moderate income, letter from Mr.
Robinson to Senator Russell
Sales to workingmen who require cars to reach places
of employment, letter from Mr. Wentworth to
Congressman Lane, similar replies to be
sent to other inquiries
Sales and control of jewelry sales, reply to inquiry
from Pearson Motor Sales, Columbus, Ohio
Trade-ins, limitation on allowances, suggestion not
to be adopted, advice to FRBank of San
Francisco
Problem of Government employees in obtaining, reply
to letter from W. A. Gordon
Discrimination against people in lower income groups
in purchase of, claimed by Mr. Payne in
letter to Senator Ferguson
Used, reply to Mr. Thomas J. Hart
Trade-in not limited to another car, advice to
FRBank of Minneapolis
Removal of older from, discussion but no change to
be made at present




3/27

687

7/11

1529

7/18

1571

7/20

1600

9/25

2003

10/16

2117

11/13

2243

12/14
9/5

2415
1866

4/20

865

5/21
5/25

1144
1188

6/4

1236

6/5

1254

6/11

1287

4/30

924

1/5

66

4/12
4/19

798
861

5/14

1050

5/22

1151

293
Pages
Regulations, Board of Governors: (continued)
W: (continued)
Automobiles: (continued)
With air conditioning units, application of
appraisal guide provisions to, advice
to FRBank of Dallas
Down payments for used, letter from Mr. Phillips
to Congressman Brooks
Exemption for loans insured under G.I.Bill, abuse
of privilege in Newark and New York City
areas, reply to Mr. Wareheim
Longer maturities for areas where freight differentials are larger suggested by Congressman Poulson
Reply to Mr. Buecking on comments re terms and
question of inflation
Proposal of Mr. H. W. Lundy for further relaxation
made to Senator Ferguson
Balloon notes written prior to effective date of regulation, revised interpretation, advice to
FRBanks
Balloon notes, application to refinancing, advice to
FRBanks
Basic contract, reference in W-147, advice to FRBank
of San Francisco
Bennett Rent-A-Car Company, purchasers of branches,
position as to leasing provisions, advice
to FRBank of Chicago
Brobeck, Phleger & Harrison, arrangements not exempt
from, advice to FRBank of San Francisco
Canada, staff members to visit Bank of Canada for information re regulation in
Canada, Messrs. Heath and Shay to report on visit to
Canada, report by Messrs. Heath, Fauver, and Shay on
regulations in
Canfield, Schell, Hannan & Castiello, inquiries re,
advice to Mr. Schell and to FRBanks
Carlton Nash Corporation, sales promotional proposal,
application to, advice to FRBank of New
York
Changes in, suggestions from Mr. J. Emmett FitzGibbon,
reply to Senator Hennings
Charge account credit, no recommendation to include at
present
Clergymen, payments on automobiles, suggestion of Mr.
Patsey to Senator Thye
Combination storm windows and screens, application of
section 3(c), reply to FRBank of Chicago
re inquiry from Mr. Charles R. Barrett
Combination used car-new car transaction of NashEastern, Inc., advice to FRBank of New York




5/25

1186

6/19

1376

62
/1

1394

6/12

1316

6/25

1415

10/15

2112

5/31

1221

6/15

1350

9/14

1936

62
/8

1459

2/15

352

3/8
4/17

522
820

4/24

883

5/21

1146

4/9

751

3/12

569

3/8

522

9/5

1867

1/4

35

8/20

1779

294
Pages
Nations, Board of Governors: (continued)
W: (continued)
Conference:
Problems in western section to be held, advice to
NADA re
Regional, to be held in June, advice to FRBanks on
schedule
Regional, rescheduled for September, advice to
FRBanks
System to be held in September instead of regional,
comments and suggestions for agenda requested of FRBanks
To be held September 12-14, advice to FRBanks
Copies of agenda sent to FRBanks for comments
Question of holding future and type of meeting, comments of FRBanks requested
To be held in 1952, advice to FRBanks
Regional, to be held at FRBanks of Cleveland,
Atlanta, Minneapolis, and Dallas, question
of enforcement program to be discussed
Connecting pipes or tiles classed as listed articles,
advice to FRBanks
Consolidation of note and additional credit in single
obligation above $2500 necessary for
exemption, advice to FRBank of Kansas City
Consultations:
With trade prior to amendment, reply to letter from
Senator Capehart
With NADA and NUCDA, material re sent to Chairman
Maybank of Joint Committee on Defense
Production
With NADA requested before changes re maturities of
automobiles, reply to Mr. McKay
Consumer credit statistics, accuracy challenged by
Representative Tackett and Mr. Bradley
Contract Automobile Rental Co., application to leasing
of automobiles by, advice to Mr. John H.
More
Contracts on 12-month basis with balloon payment in 12th
month to be refinanced for additional
period of three months, advice to FRBank
of Chicago
Cooking stoves and ranges, revision of summary re,
advice to FRBanks
Credit cards issued by oil companies, reply to Mr.
Clack
Credit risks, reply to Mr. Emanuel Nadlin
Crosley Farm 0 Road not included under classification
automobiles, advice to FRBanks
Defense Production Act Amendments of 1951, statement
sent to Bureau of the Budget for inclusion
in President's statement on




1/26

203

5/7

986

5/22

1149

8/10
8/23
8/28

1726
1810
1841

10/3
10/31

2043
2191

12/27

2493

1/9

89

4/23

876

3/8

517

4/17

846

4/20

865

10/26

2169

7/10

1522

6/22

1406

6/13

1330

1/11
3/27

109
684

3/13

574

8/2

1667

295
Pages

Regulations, Board

of Governors: (continued)
V: (continued)
Defense workers, problem of transportation, reply to
letter from Congressman Scrivner
Destruction of old forms and use of new revised ones because of amendments, reply to Congressman
Addonizio
Developments, statement sent to National Security Resources Board
Developments in consumer credit field, report of Mr.
Noyes
Disaster credits, amendment to section 7(j), explanation
and principles re, advice to FRBanks
Disaster designation of Greenville, Hunt County, Texas,
area, advice to FRBank of Dallas re application of section 7(j)
Disaster designation for Wakeeney, Kansas, comments re
sent to FRBank of Kansas City
Discussion, informal
Down payment on new article, use of full payment previously received for cash sale of used
article of same kind as, advice to FRBanks
Down payment requirements under Amendment No. 4, draft
of interpretation sent to FRBanks for
comments
Effects and question of tightening of terms, to be discussed at FAC meeting
Effects of and question of tightening of terms, no
changes to be recommended by FAC at present
Effects of, reply to comments of Mr. Peter J. Simons,
similar letters to be sent in response to
other communications
Electrical appliance sales, further observation from
Mr. Charles G. Pyle on effects
Enforcement:
Program, advice to FRBanks re holding of second
disciplinary conference
Information to be furnished to FRBanks re Registrants, letters to Home Loan Bank Board
and Department of Agriculture
Program, information to be furnished to FRBanks,
requests sent to Chief National Bank Examiner, FDIC, and Federal Security Agency
Program, educational and disciplinary action, advice to FRBank of St. Louis
exchange of information between FRBanks
Program,
or branches and FHA local offices, advice
to FRBanks re procedure
Matters, Mr. Townsend to confer with FRBank officers
to determine handling of cases
Duplicate of transmittal letter and reports of investigation to be sent to Board, advice to
FRBanks




5/31

1222

5/25

1190

1/12

116

5/22

1151

6/26

1429

7/18

1572

8/13
6/12

1732
1311

7/13

1548

8/10

1726

2/1

235

2/20

399

6/13

1329

6/6

1268

1/5

67

3/16

610

4/5

740

4/12

800

4/13

806

4/17

820

5/9

1003

Re

gulations, Board of Governors: (continued)
W (continued)
Enforcement: (continued)
5/10
Methods discussed by Mr. Townsend
Administrative proceedings, discussion of using in
5/10
certain cases
5/15
Statement of Mr. Evans at FAC meeting
Procedures, statements of Congressman Tackett in
Congressional Record, to be ignored in
6/28
absence of further developments
Practices, release and resolution of Congressman
Tc,ckett re, matter to be considered further
7/12
by Chairman Martin
7/17
Program, no changes suggested for
FRBank responsibility for, statement of Mr. Evans on
7/31
procedure for handling
Activities, letter from Mr. Schmidt to Senator Ives
8/8
re newspaper story
8/14
Procedure approved
8/17
Complaint of Mr. Herndon to Congressman Priest
9/5
Topic for discussion at Presidents Conference
9/17
Conference, review of discussion by Mr. Noyes
Discussion at Presidents Conference of enforcing
compliance rather than criminal prosecution 10/4
Consideration of suggestion at Presidents Conference
to be deferred until Mr. Evans' return from
10/15
Europe
Criticisms of Representative Tackett and Mr. Bradley,
discussion of, reply to Mr. Tackett to be
10/26
prepared
Assignment to other Government agency not favored,
12 4
/
Board to consider policies further
/6
on 12 2
Reply to Better Business Bureaus, Inc., re views
Memoranda to be used as basis for discussion at
12 27
/
later meeting
Evaporative air coolers not incorporating refrigerating
unit, not considered air conditioners,
2/27
room unit, advice to FRBanks
lender based
Excessive amount of credit by Registranton Statement of Borrower containing inflated cash price of article to be purchased, question of criminal penalties for
seller involved, advice to FRBank of
10/2
Cleveland
Regulation X, section
Exemption of credit subjected to
2/8
7(h)(3), advice to FRBanks
3/20
to
Exemption requested by Mr. Neilson, reply
re inquiry re
Exemption, reply to Mr. W. H. Nichols
4/11
purchase of car for church work
exceeding $5,000 for
Exemptions in principal amount
automobiles, and $2,500 in other cases,
5/28
advice to FRBanks




296
Pages

1007
1009
1064

1457

1536
1555
1654
1708
1738
1769
1870
1944
2051

2107

2169
2347
2488
2493
460

2035
279
630
781

1201

Re

297
Pages
gulations, Board of Governors: (continued)
W: (continued)
Extension of authority, draft of legislation to be pre1/9
pared for omnibus bill
Extension of, amendment to Defense Production Act of
1950 to extend authority until June 30,
3/27
1953, to be presented
Facilities, increases in, reply to Mr. Michelman re
22
/1
Board policy
Federal credit unions, application of section 7(k) to,
5/28
advice to Mr. Blomgren
FRBulletin:
Statements re rental transactions, over-allowances
on trade-ins, disaster credit exemptions,
and exclusion of self-labor to be pub1/16
lished in
3/15
Statements to be published in March issue
Statements re appraisal guides, pre-effective date
balloon notes, and credits over $2,500 or
6/7
$5,000 to be published in
7/21
Statements to be published in
Financing of automobiles for parts salesmen of Allied
Motors, Inc., Kansas City, Mo., advice to
3/7
FRBank of Kansas City
Floods in Kansas and other States, designation of disaster areas by FRBanks of Kansas City and
7/26
St. Louis, advice to Congressman Scrivner
Floor or wall furnaces, advice to FRBanks re applica12/26
tion to
Food freezers, rental of, question raised by Allied
Stores Corporation, advice to Mr. A. L.
11/29
Trotta
Foreign built cars, exemption requested by Mr. Sanders,
5/25
Vice President, Hill & Tibbitts, Inc.
Free gifts, rebates or discounts, application to sale
of $100 certificate redeemable at grocery
store in combination with sale of $400
television set, advice to FRBank of San
6/11
Francisco and other FRBanks
Sears,
Free gift principles, application to plan of
Roebuck & Company, advice to FRBank of
8/1
Dallas
Free merchandise and rebates, revision of summary,
6/6
advice to FRBanks
Revised published summary, further information re,
6/6
advice to FRBanks
Furnished apartments for rent with title to furniture
to be transferred to lessee upon expiration of three year lease, advice to FRBank
8/20
of New York
Furniture sales, advice to Mr. B. F. McLain, Dallas,
4/30
Texas, on




81

683
425
1199

136
603

1274
1544

514

1631
2488

2324
1189

1285

1666
1264

1265

1779
922

Re

298
Pages
gulations, Board of Governors: (continued)
W: (continued)
Furniture, effects on business in Jackson, Miss., area,
letter to Senator Maybank
Garbage incinerators, advice to Mr. Milton Rosen re
application
Gas-fired water heaters, instalment rental by Illinois
Power Company, advice to Mr. Bernstein
re applicability to plan
Proposed plan of Washington Gas and Electric Company of Tacoma, Washington, for leasing,
advice to Mr. Schofield
Instalment rental by Illinois Power Company,
further advice to Mr. Bernstein
Gas range industry, effect on, advice to Chairman May
bank of Joint Committee on Defense Production
Gasoline, oil, tires and repairs, credit extended by
Holmes Tuttle, Inc., Los Angeles, and
Paramount Motors of San Francisco, to
automobile purchases
Gift offer of Sears Roebuck, advice to FRBank of Dallas
re application
Graduated maturity schedule proposed by Virginia Automobile Dealers Association, not favored
at present, advice to Senator Robertson
Hardwood flooring and southern hardwoods, effect on
market for, statement of Mr. Dewey to
Senator McKellar
Hearings:
Representatives of NADA to meet with Mr. Evans and
other Board members on January 18
Representatives of National Used Car Dealers Association to meet with Mr. Evans and other
Board members on January 18
Extension of time granted for submission of supplemental information, advice to Mr. Cain
NADA and National Used Car Dealers Association,
transcripts of views and memoranda sent to
Joint Committee on Defense Production
National Used Car Dealers Association, extension of
time granted for submission of additional
information
Home improvements and repairs:
Resolution of Washington Association of Roofing
Siding and Insulation Contractors, Inc.,
advice to Senator Cain
Advice to Representative Spence re letter from Mr.
Sanning
Time for making down payment, advice to Mr. Goslin
Home improvement credit, application to Newberry, S. C.,
area




5/17

1107

11/1

2197

10/15

2113

11/15

2262

12/19

2458

7/20

1599

4/9

753

7/26

1637

3/9

552

/7
81

1772

1/11

105

1/11

105

2/6

263

2/9

314

2/16

361

4/13

805

4/9
11/8
5/21

750
2219
1145

Re

glilations, Board of Governors: (continued)
W: (continued)
Home modernization, repairs or improvements, relief
requested by Messrs. Smith and White of
Atlanta, reply to Congressman Davis
4/9
Identification certificates for investigators, advice
to FRBanks re change in wording because
8/2
of extension of Defense Production Act
Impact on business activity during conversion period
to wartime economy, replies to corre1/26
spondence from Mr. Geo. H. Lehleitner
Inflation, view'of Philip Lesly Company distributed
for American Finance Conference re control
6/22
of, reply to Senator Millikin
5/21
Information re consumer credit sent to Senator Johnson
Insurance) automobile, question of applicability, advice
11/29
to FRBank of Dallas
Interpretations, summaries, advice to FRBanks re
omissions of certain
3/5
Interstate Securities Company, Kansas City, Mo., use
of assignment and assumption agreement
form or execution of new mortgage for
transfer of equity in case of automobile,
3/2
no objection to
Jewelry, question of inclusion, reply to Congressman
1/3
Mahon
Kelley Kar Company, sale or financing of insurance and
gasoline, oil, tires and repairs, advice
to FRBank of San Francisco
Lay-away plans, application to, advice to FRBanks
1
.
"/// 8
Leasing arrangement presented by First National Bank of
1/5
Boston, advice to FRBank of Boston
Leasing plan of Standard Stores, Inc., subject to,
2/9
advice to FRBank of Dallas
Leasing arrangements, authority of Board re, difference
of opinion of Legal Division and Solicitor's Office re, memoranda to be prepared
2/15
for further consideration of question
Leasing of listed articles for indefinite periods at
uniform, monthly rentals payable in advance,
4/13
advice to FRBanks
Leasing of automobiles by Automobile Leasing Corporation
of Detroit, letter from Mr. Bradford re,
8/8
contracts less than $5,000 subject to
Lease of automobiles to construction company for use on
construction contract with U. S. Government, exempt under section 7(d), advice
8/20
to FRBanks
Leasing of automobiles by Contract Vehicles, Inc.,
8/21
further correspondence with Mr. Cotter re
Leasing of automobiles, further correspondence with Mr.
Clarence A. Bradford, copies of letter sent
8/24
to Senator Ferguson and Detroit Branch




299
Pages

748

1676

204

1403
1144
2325
491

479
25

g4
67
319

345
808

1707

1780
1790

1820

300
Pages
5,44tions, Board of Governors: (continued)
WI (continued)
Lease of automobile, computation of required deposit,
advice to FRBank
arrangement of Feld Auto Leasing Company,
Leasing
advice to FRBank of St. Louis re inquiry
from Mr. Norman Bierman re exemptions
Leasing arrangements, no change in decision, discussion
in connection with T and E Company, Inc.,
Wilkes-Barre, Penna.
Legislation, views of Board sent to Senator Maybank and
Representative Spence
Liaison committee of National Retail Credit Association,
not favored by Board, advice to FRBanks
Loan to pay off Group D obligation held by another
Registrant, advice to FRBanks
Loan to pay off obligation held by another Registrant,
advice to FRBank of Dallas
Loans by production credit associations to memberfarmers, reply to Mr. Duggan, Department
of Agriculture
Lower income groups, discrimination against, reply to
letter from Mr. Ray E. Titus
Maturity requirements for cars, reply to letter from
Mr. Frank Barrett
Medical loan, renewals of unpaid balance, advice to
FRBanks, comments requested
Merchandise certificates to be awarded as prizes on
sales promotion program, status of, advice
to FRBanks
Metered taxicabs, exemption from maximum maturity requirements, not justified, advice to
FRBank of New York
Monthly payments on automobiles not being met, statement of Mr. Swartz to Representative Talle
Mortgage lenders, application to, advice to Mr. Samuel
E. Neel
Moving of house and necessary work in connection with,
loan subject to, advice to FRBank of Dallas
Nash-Kelvinator "Rambler Deliveryman", status under,
advice to FRBank of Chicago
Nash Rambler model called "Delivery Man", classification
of, advice to FRBanks
National Automobile Dealers Association, request for
amendment to provide longer maturities not
approved, advice to Mr. McKay
National Used Car Dealers Association, request for
amendment not approved
Necessitous home repairs) exemption for, advice to
FRBank of Richmond re suggestions of Mr.
Gottschalk




8/30

1844

8/31

1852

12/4

2359

/
7 5

1490

1/10

95

1/8

73

1/8

74

6/5

1253

5/22

1160

3/13

574

7/18

1576

12/7

2385

3/27

685

5/11

1032

12/12

2404

5/18

1120

7/2

1470

10/22

2145

3/9

554

3/9

554

3/23

656

Re

•
Mations, Board of Governors: (continued)
V: (continued)
Necessity for, reply to inquiry from Mr. Anderson re
continuation
Need for continuation, reply to letters from Mr.
Clarence L. Landen
Off-street parking program of Baltimore, amendment
approved to exempt financing by municipalities of needed nonresidential facilities, advice to May D'Alesandro
Opposition to, led by association of small loan companies, statement of Mr. Evans
Outside barbecues, advice to Mr. Albert A. Jones and
FRBank of San Francisco
Problems re, reply to letters from Mr. Geo. H.
Lehleitner
Purchase or lease of same article at conclusion of instalment rental transaction, advice to
FRBanks
Purpose of, reply to letter from Mr. George A. Sundberg
sent to Congressman Walter
Purposes of, letter to Congressman Dondero re
Purposes, views of Board to be requested at hearings on
Defense Production Act of 1950
Purposes, reply to letter from Mr. Allen to Congressman
Riley
Purpose of, reply to Congressman Havenner re letters
from Mr. Louis W. Jones
Radio and television field, reply to Mr. Harry E. Ward
Radio-Television Manufacturers Association, relaxation
requested by, reply to Mr. McDaniel
Recommendations re removal of limitations on authority,
topic for discussion at FAG meeting
Refinancing of instalment obligation arising out of
sale of automobile on January 1, 1951,
reply to inquiry of Mr. Mark T. Smythe
Refrigerators, modification of terms during summer
months requested by Mr. Parks, Brawley
Chamber of Commerce, Brawley, Calif.
Refund of portion of finance charges, sales promotional
proposal of Registrant, advice to FRBanks
finance charges at time of add-on sale (W-159),
Refund of
statement to be published in FRBulletin
loan for automobile repairs and paying off
Refusal of
minor bills, reply to letter from Mr. John
Allan
Registration statements, information under Section IV
to be furnished with, advice to FRBanks
Registration Statement, advice to FRBanks re procedure
for filing and completion of information on
Registration, status of dealer-salesmen of Kirby Company
of Spokane, Wash., and Sacramento, Calif.,
advice to FRBank of San Francisco




301
Pages

3/16

609

3/13

575

4/4

727

7/17

1556

8/6

1690

5/24

1177

3/26

669

1/9
1/9

86
87

5/8

990

6/22

1407

9/14
4/13

1937
809

6/22

1403

9/5

1869

8/15

1751

5/4

980

8/15

1752

9/6

1880

1/12

115

3/15

598

4/13

807

7/18

1574

Re

302
Pages
Mations, Board of Governors: (continued)
W: (continued)
Registration statements, statistical data on, matter
left to discretion of FRBanks, advice to
FRBanks
Relaxation of terms, especially for automobiles, meeting held re, advice to FRBanks and request
for views on
Discussion of requests of Senators Maybank and
Ferguson, draft of letter to be prepared
Advice to Mr. Dick Price on resolutions of ChryslerDeSoto-Dodge-Plymouth Dealers Association,
Inc., for
Report to Joint Committee on Defense Production
Report on outstanding credit during first quarter of
1951 as compared with that period in 1950,
to be prepared by staff
Reports to be made at Tuesday Board meetings
Report by Mr. Noyes on developments
Repossessed automobile, reply to letter from Mr. Roop
re ruling of FRBank of Minneapolis on sale
of
Restrictions in Defense Production Act Amendments of
1951, elimination favored, statement in
draft of letter to Mr. Correa, further
discussion to be held
Review of developments by Messrs. Young and Noyes
Sales inducement in advertisement re purchase of new
$2,700 automobile, advice to FRBank of
San Francisco re, letter to be sent to
all other FRBanks
Sales promotion plan of registrant engaged in door-todoor selling of suction cleaners, advice
to FRBank of St. Louis
Retirement Fund of Boston Gear Works,
Savings and
application of
Section 6(f), applicability to free trial or demonstration arrangements, advice to FRBanks
Section 7(h), loan to father to make loan to daughter
for purchase of home, exempt under, advice
to FRBank of Kansas City
Sedan delivery, classified as truck, advice to FRBanks
S. 1717 and H.R. 3871, effect on, statement of Mr.
Noyes, no action to be taken
S. 1717, to amend and extend Defense Production Act of
1950, memoranda to be submitted
Serviceman's Pre-Induction Debt, application of section
5(c)(2), advice to FRBanks
Sewer connection problem, application to case presented
by Councilman Quinn of New York City
Short-term rentals followed by further rental or sale,
advice to FRBank of Dallas




9/28

2029

2/27

460

7/3

1485

10/23
1/26

2149
207

4/17
4/10
1
5/

820
757
935

1/12

115

11/13
4/17

2231
820

7/11

1530

10/26

2177

2/27

459

1/8

75

1/23
2/13

177
336

6/26

1418

7/24

1608

2/16

360

5/14

1047

3/26

670

Regl

aations, Board of Governors: (continued)
W: (continued)
Singer Sewing Machine Company, application to several
products, advice to FRBank of New York
4/16
Split maturities for automobiles, advice to Senator
5/17
Morse re question
Statement of Borrower Form, copy printed by S. C. Toof
and Company, Memphis, Tenn., not in full
compliance with section 4(d), advice to
61
/1
FRBank of Philadelphia
Statistics, revision authorized, statement of Mr. Young
6 6
/2
on history
Statistics, reply to letter from Representative Tackett
and invitation to discuss matter with Board 12/4
4/10
Stroll-O-Chair, application to, advice to FRBanks
Suction cleaners, status of devices or attachments
usable in connection with, advice to
6/14
FRBanks
Articles sold in connection with, advice to FRBanks
8/20
re application
Summary re verification of loan value, revision sent to
FRBanks
12 8
/2
Taxation of instalment payments, letter from Mr.
Thompson to Senator Magnuson
61
/4
Taxicabs, change in provisions favored by Mr. Harold
dellolfe
1/19
Television sets and appliance sales:
Sales involving allowances for sets, including
service warranties, advice to FRBank of
Chicago
49
/
Letter to Senator Knowland on inquiries from
constituents
4/11
Advice to Senator Connally re telegram from
Mr. Lynn Dickerson
4/12
Trade-ins on, reply to Congressman Thomas to telegram from Mr. Lynn Dickerson
4/27
Advice to Senator Kefauver on comments of
Mr. Richardson
5/2
Requests for relaxation of requirements not approved, advice to Mr. Secrest and others
5/10
5/10
Press statement as to relaxation of terms
Television and electrical appliance industry, reply to
5/25
Congressman Javits
Television rental plan of Video Meter, Inc., San
Francisco, advice to FRBank of San
8/22
Francisco
Terms, visit of Mr. Armstrong of Baltimore Branch to
Mr. W. R. Vineyard to clear up misunderstanding
1/9
No tightening to be recommended by Mr. Evans or
staff at present
3/8




303
Pages

813
1105

1287

1423
2354
775

1342
1781

2513
1341
153

752
780

799
903

953
1016
1019
1187

1796
85
521

304
Pages
gulations, Board of Governors: (continued)
W: (continued)
Terms: (continued)
Tightening recommended by Voluntary Credit
3/20
621
Restraint Committee
5/1
Relaxation not favored at present
935
970
5/3
Topic for discussion at FAC
5/15
1060
Changes not favored at present by FAC
5/31
1218
No change to be made at present
Relaxation for automobiles requested by Mr. Deo,
5/31
1222
NADA
No relaxation to be made at present, advice to
6 11 1289
/
NADA
Trade-ins:
Effect on down payment requirement, advice to
233
2/1
FRBanks
Registrants for, advice to
Cash allowances by
1176
5/24
FRBanks
part of down payment on appliances, reply to
As
1513
letter from Mr. Glasgow to Senator Smith
7/9
Application of single article as down payment on
two articles sold at same time, advice to
1825
8 27
/
FRBank of St. Louis
Staff to meet with Congressional Joint Committee on
8/28
1832
Defense Production to discuss problem
As down payment, report of Mr. Evans re discussion
of, conference to be held with trade representatives and interpretation approved for
1855
issuance subsequent to
9/4
Interpretation, press statement, and letter sent to
1889
FRBanks
9/7
As down payments, discussion with representatives of
Admiral, Westinghouse Electric and Philco
1915
9/11
Corporations
As down payment, statement re provisions permitting,
1927
9/12
to be published in FRBulletin
Allowance, question of rebate of part, advice to
10/2
FRBanks re final decision
2034
Used cars, purchase for less than $800, letter from
1601
7/20
Mr. Mayo to Senator Tobey
Vendors who assist customers in obtaining credit, status
/
of transactions, advice to FRBank of Dallas 12 17 21,31,
Veterans, purchase of cars on basis of nothing down and
36 months to pay with insurance under VA,
1512
reply to Mr. Wareheim
7/9
Veterans exemptions, reply to letter from Mr. Alexander
1/3
E. Duncan
24
summary of discussion with VA
Veterans' exemptions,
1/15
121
sent to FRBanks
Veterans' exemptions, reply to Mr. Biddulph re loan for
1/30
222
automobile




Re

305
Pages
gulations, Board of Governors: (continued)
W: (continued)
Veterans exemptions under section 7(e)(5), letter to
Senator Cain from Mr. Adkins re ad8/21
vertisement of
Veterans loans, abuse of GI credit guarantee, recommendations re restrictive action sent to
12/18
Office of Defense Mobilization
Violations:
A. Harris Motor Sales, Pittsburgh, Pa., order
directing investigation and designating
officers to take testimony
1/30
Issuance of injunction, press statement sent
to FRBanks and Branches
2/23
12/13
Referred to D3partment of Justice
Advertised single payment plan for financing
automobiles in Minneapolis, check to be
made on, advice to Mr. Wareheim
31
/5
Aldon Construction Company, Inc., Belleville,
8
/23
New Jersey, order directing investigation
12/13
Referred to Department of Justice
Alexander Max, d.b.a. National Clothing and
Furniture Company, Baltimore, Md., order
directing investigation
5/17
Allan Gordon and Eli Temkin, Partners d.b.a.
National Stores, order directing
investigation
8
/22
Aluminum Home Improvement Company, Des Moines,
Iowa, matter referred to Department of
Justice
8 2
/0
Additional information requested from FRBank
of Chicago for submission to Department
of Justice
9/11
Andrew C. Cain, William C. Cain, and Lee Bing,
d.b.a. Dixie Sewing Dealers, New Orleans,
6/19
La., report sent to Department of Justice
Order directing investigation approved
8/8
Arkansas Home Building and Repairing Company, Little
Rock, Ark., investigation to be conducted
by FRBank of St. Louis, advice to Congressman Gathings re request of Mr. J. M.
2/21
Scoggins
Atlas Furniture Company, Detroit, Mich., order
5/10
directing investigation issued
Atlas Sew-Vac Stores, Inc., Houston, Texas, order
5/16
directing investigation
Atlas T. V. Stores, Inc., Houston, Texas, order
directing investigation
5/16
Atlas T. V. Stores, Inc., and Atlas Sew-Vac Stores,
Inc., Houston, Texas, judgments against
6 1
/1
Roth Company, Inc., Philadelphia, Pa., case
Barney
referred to Department of Justice
12/20




1789

2448

211
434
2412

599
1811
2412

1111

1797

1782

1919

1369
1711

425
1024
1093
1094
1290
2477

306
Pages
eEulations, Board of Governors: (continued)
W: (continued)
Violations: (continued)
Beloit, Wis., case, payment for expenses of U. S.
Marshal in serving judgment approved
Best Radio Shop, Cleveland, Ohio, no proceedings
to be instituted at present as no violations disclosed after investigations
Bogda Motor Company, Inc., Indianapolis, Ind.,
order directing investigation and
designating officers to take testimony
Judgment against, press statement sent to
FRBanks
Clement B. DeRose, d.b.a. Genessee Construction
Company, South Bend, Ind., matter referred to Department of Justice
Clyde Fitz and Blanche E. Fitz, d.b.a. Northwest
Finance Company, Hamilton, Mont., referred to Department of Justice
Contractors Roofing and Siding Corporation, Nutley,
N. J., order directing investigation
Contractors Roofing and Siding Corporation and
Cooperative Construction Company, Inc.,
Nutley, N. J., referred to Department of
Justice
Crow Lumber Company, Vermilion, Ohio, investigation
of records, action to be instituted to
compel registrant to allow
Deal by used car salesman to permit instalment obligation at inception to have maturity
inconsistent with, matter referred to
FRBank of Richmond, advice to Mr.Kelleher
Department of Justice, procedure for reference to
Disciplinary conference for willful violators,
clarification of Section II, 2 of Outline
Enforcement Program, advice to FRBanks
Duke Randall Motors, Inc., San Pedro, Calif., order
directing investigation and designating
officers to take testimony
Mr. Townsend to go to West Coast in connection
with injunction proceeding against
Judgment against, press statement sent to
FRBanks and Branches
Expenses, Solicitor's Office authorized to approve
payment of future bills for investigations
and court proceedings
FHA insured contracts, procedure for reciprocal
reporting between FRBanks and FHA
FRBank of Minneapolis, methods used in investigation, letters to Congressmen Thye and
Wier




2/21

11/1

428

2198

1/30

213

2/15

353

/0
8 2

1782

9/4

1863

8/23

1812

12/13

2412

10/11

2089

1/26
5/10

1008

9/26

2008

/
2 19

374

2/21

417

2/26

441

2/21

428

3/16

611

7/19

1591

206

Regulations,

Board of Governors: (continued)
W: (continued)
Violations: (continued)
FRBank of Minneapolis: (continued)
Methods of investigation, advice re contract
between Dean Jones and Patsey Motor
Company sent to Congressmen Thye and
8/3
Wier
Fifth Avenue Motor Sales, Inc., of Columbus, Ohio,
order directing investigation and designating officers to take testimony ap1/2
proved
1/12
Witness fees approved
Judgment against, press statement to be issued,
1/18
advice to FRBanks
Consent injunction from further violations,
1/23
report to Mr. Townsend
order directing investigaFireside Finance Company,
4/17
tion
Corporation, Cleveland Heights,
General Television
Ohio, no proceeding to be instituted and
11/28
case closed
Gould Investment Company, Beverly Hills, Calif.,
case closed as investigation of books
/
8 2
permitted
H. Bartels, Inc., Philadelphia, Penna., use of
administrative proceeding approved to
5/10
determine suspension of license
Order for proceedings and notice of hearing
5/28
approved
Hearing being held by Mr. Teegarden, public
hearing to be granted if requested
7/17
Supplemental and amended order for proceedings
and notice of hearing pursuant to section
7/19
8(h) approved
Status of hearing
7
.41
Stipulation of counsel approved
Order granting respondent's request for oral
11/13
argument approved
Order resetting date for oral argument (Jan. 4,
11/21
1952) approved
Hamric, Herman Bryan (d.b.a. Hamric Motor Sales),
4/17
order directing investigation
Hearing to be held, services of Mr. Teegarden,
5/17
Hearing Examiner, GS-13, requested for
7/17
Hearings, public, to be granted if requested
Hearing to determine suspension of license, services
of Mr. James J. Fitzpatrick, hearing examiner of NLRB, requested, letter to
9/28
Civil Service Commission




307
Pages

1683

117
146
169
822

2318

1675

1009
1202

1554
1592
1653
1712
2232
2296
824
1106

1555

2028

308
Re

Pages
Board of Governors: (continued)
W: (continued)
Violations: (continued)
Herb Black, d.b.a. Television Service Center,
Cincinnati, Ohio, issuance of order
10/26
suspending license for 15 days approved
Herb Black, a.k.a. Herbert Blackschleger, d.b.a.
Television Service Center, Cincinnati,
11/14
Ohio, order for proceedings approved
/4
11 1
Order suspending license approved
Herbert Sweren and Arnold L. Schwartz, a partnership, d.b.a. Arnold Sales Company, Balti5/17
more, Md., order directing investigation
Homecraft Products, Inc., Peoria, Ill., referred
11/15
to Department of Justice
Household Appliance Company of Albuquerque, New
Mexico, explanations furnished to Senator
Anderson, information to be sent to Denver
6/29
Branch
Illinois Improvement Company, Peoria, Ill., order
5/10
directing investigation issued
8/20
Matter referred to Department of Justice
of St. Louis to
Investigative procedure, FRBank
3/27
discuss with Mr. Buckner
Co.,
Jack Vane, d.b.a. Vane's United Phonograph
Charleston, S. C., order directing inves9/21
tigation
d.b.a. Semmons Furniture Company,
James E. Semmons,
Columbia, Mo., order directing investiga9/6
tion
Wilson, Robert Green, d.b.a. Green Motor Sales,
James
Detroit, Mich., and Leonard J. Green, d.b.a.
Magic Motors, Pontiac, Mich., order issued
/27
12
for investigation
Jet Appliance Company, New Orleans, La., referred
/
12 13
to Department of Justice
Julius Star, Battle Creek, Michigan, referred to
12/13
Department of Justice
Lange, Walter L., (d.b.a. Lange Television Sales),
order directing investigation, further
report to be made to determine reference
5/1
to Department of Justice
Leo Berman, d.b.a. Leo Berman Hardware and Appliances, Chicago, Ill., matter referred to
/2
8 0
Department of Justice
Lisle, P. C., (d.b.a. Lisle Motor Company), order
4/17
directing investigation
Louis Master and Morris Master, d.b.a., Master Tire
and Supply Co., Lawrence, Mass., order for
10/4
proceedings and notice of hearing
11/13
Order suspending license approved




2167

2248
2250

1109
2263

1466
1026
1782

686
1984
1878

2501
2412
2412

940
1782
823

2065
2235

Re

309
Pages
gulations, Board of Governors: (continued)
W: (continued)
Violations: (continued)
Marvin A. Smith Company, Dallas, Texas, order
directing investigation and designating
officers to take testimony
3/5
Issuance of injunction against, text of press
statement sent to FRBanks and branches
/
39
Master Tire and Supply Company, Lawrence, Mass.,
administrative proceeding authorized because of flagrant violations to determine
9/6
suspension of license
9/11
NLRB examiner requested to conduct hearing
Robert, d.b.a. Music Shop, East Cleveland,
Mattlin,
Ohio, referred to Department of Justice
9/4
Appliance Company, Bartow, Fla., investigation
Maxim
of records, action to be instituted to com5/8
pel registrant to allow
Suit to be dismissed as records made available
6 19
/
for investigation
McCamey and Guy Motor Sales, order directing investigation
4/17
Michael Home Equipment Company, Inc., Wash., D. C.,
television sets, re-investigation to be
made, advice to FRBank of Richmond re later
2/1
developments
3/13
Order directing investigation
Injunction to be issued
5/3
Miller Motor Sales, Inc., St. Louis, Mo., order
directing investigation and designating
5/24
officers to take testimony
8/7
Case closed as business ceased by
Minnesota Soft Water Company, Minneapolis, Minn.,
11/15
matter referred to Department of Justice
Norm Birkhead Auto Sales, Evansville, Ind., order
directing investigation and designating
officers to take testimony
2/19
Oconee County, S. C., reported by Mr. McCallum,
advice to Senator Johnston re investiga7/18
tion
Auto Mart, Inc., Chicago, Ill., order directOgden
3/20
ing investigation
Issuance of injunction, advice to FRBanks and
3/30
branches
Payton-Nash Company, North Kansas City, No., investigation to be completed and reports sent
/
12 12
to Board
Pettyjohn Motor Company, Inc., Monte Vista, Col.,
investigation to be completed and reports
12/12
sent to Board




489

555

1874
1920
1863

995
1370
826

232
579
974

1180
1704
2263

374

1578
625
711

2406

2406

Re

310
Pages
guiations, Board of Governors: (continued)
W: (continued)
Violations: (continued)
Plichcih, George M., (d.b.a. Reliable Used Car
Company), order directing investigation
4/17
Personal Finance Company, Yonkers, New York, report
6/19
sent to Department of Justice
Procedure for handling case, statement of
7/31
Mr. Evans
Procedure for reference to Department of Justice
and holding of administrative hearings,
to be reviewed by Mr. Norton with Messrs.
Townsend, Vest, and Carpenter, present
procedure to be continued pending adoption
6/19
of changes
Public Loan Corporation, order directing investiga4/17
tion
Public Loan Corporation, Walter L. Boynton and
Herman Bryan Hamric, d.b.a. Hamric Motor
Sales, case referred to Department of
Justice for action
5/8
Public Loan Corporation in San Francisco, copy of
testimony of investigation to be purchased
by, furnishing of information re Board action to be left to discretion of Solicitor 5/8
Public Loan Corporation and Herman Bryan Hamric„
discussion with Department of Justice,
U. S. Attorney in San Francisco to be
5/10
instructed to prosecute case
Public Loan Corporation, Walter L. Boynton, and
Herman Bryan Hamric, d.b.a. Hamric Motor
Sales, San Francisco, Calif., no decision
61
/9
reached by Department of Justice as yet
R. B. Brown, d.b.a. Sylvan Radio and Television
Company, Washington, D. C., order directing
investigation
5/17
Raleigh Finance Company, Philadelphia, Pa., case
12/20
referred to Department of Justice
Roberts Motor Company, Evansville, Ind., order
directing investigation and designating
officers to take testimony
2/19
Roberts Motor Company and Norm Birkhead Auto Sales,
partners to be called in for disciplinary
conference in lieu of other action, advice
6 13
/
to FRBank of St. Louis
Rosen Home Equipment Company, Inc., Baltimore, Md.,
5/17
order directing investigatioL
Rosen's, Inc., Baltimore, Md., referred to Department of Justice
9/4
Roy's Appliance Company, Beloit, is., order directing investigation and designating officers
1/25
to take testimony approved
Judgment against, press statement sent to FRBanks 2/2




827
1369
1654

1368
821

992

994

1008

1366

1115
2478

374

1328
1113
1863

184
242

311
Pages

Roo11
.

continued)
1Ati0n8, Board of Governors: (
W: (continued)
Violations: (continued)
Rules of Procedure, amendments re issuance of subpoenas and payment of witness fees ap6 2
proved
/8
Sam Kay (doing business as Arkansas Home Building
and Repairing), issuance of order directing
4/lo
investigation
6 19
/
Report sent to Department of Justice
Semmons Furniture Company, Columbia, Mo., matter
11/15
referred to Department of Justice
7/31
Small loan companies, statement of Mr. Evans
T and E Company, Inc., Wilkes-Barre, Penna.,
leasing arrangements, representatives
12/4
to be invited to discuss matter
Automobile leasing business, meeting to discuss
problem and question of amending Regulation 12/14
Teal Bros., Inc., Detroit, Mich., referred to
Department of Justice
9/4
W. H. Brandbo, d.b.a. Brandbo Motors, and Clyde
Fitz and Blanche E. Fitz, d.b.a. Northwest Finance Company, Hamilton, Montana,
referred to Department of Justice
9/4
Walter L. Lange, d.b.a. Lange Television Sales,
St. Paul, Minn., report sent to Department of Justice
61
/9
1/12
Witness fees approved in connection with hearings
W-146, trade-ins, not effective following enactment of
Defense Production Act Amendments of 1951,
8 2
/0
advice to FRBanks
Wall to wall carpet nailed to floor in new residence
to be included in appraisal under Regulation X, and not subject to W, advice to
FRBank of Dallas
3/2
Water softening units, status under, advice to FRBank
of Dallas
7/10
Wholesale financing level, reply to suggestion of
Mr. Rogers of May-Stern & Company, Cin3/22
cinnati, Ohio
Willys Sedan Delivery, classification to be determined
by inclusion of arrangements for passenger
6/13
use, advice to FABank of Minneapolis
X:
Acquisition by co-tenants of undivided interests in real
property, applicability of section 2(i)(4)
10/31
(B), advice to FRBank of Dallas
Actual date such credit is extended, interpretation of
phrase in section 6(i), views of FRBanks
requested
2/21
3/6
Advice to FRBanks re meaning of phrase




1454
769
1369
2263
1655

2358

2415
1863

1863

1369

117
1780

483
1523

647
1329

2191

427

5o4

312
Pages
1144Xations, Board of Governors (continued)
X: (continued)
Addition to store building, not exempt if more than 20
per cent of space used for other than
manufacturing purposes, advice to FRBank
3/9
of Dallas
Administration by FRSystem, discussion of memo of
Messrs. Young and Noyes by Board members
12/4
and Mr. Fisher
Administration, employment of outside economists to
appraise problem suggested by Mr. Vardaman, matter referred to Chairman Martin
12/4
and Mr. Powell
5/14
Agents for lenders, status of, advice to FRBanks
Air conditioning, advice to FRBank of Dallas re ap5/10
plicability
Air conditioning units, installation in cafe, question
of considering as major improvement under
6/6
section 2(g), advice to FRBank of Atlanta
2/9
Amended effective February 15, 1951
brokers,
Amended, maximum maturity, and real estate
2/12
statements to be published in FRBulletin
Amendment to exempt defense construction, approved
subject to approval of Housing and Home
2/21
Finance Administrator
Not approved by Mr. Foley, matter to be considered
2/21
further
2/27
Amendment to Section 6, defense construction, approved
Amendment re defense construction, procedure re approved,
3/6
advice to FRBanks
exemptions, views of FRBanks
Amendment for hardship
3/8
requested
terms suggested by Chairman McCabe,
Amendment to tighten
Mr. Norton to discuss matter with Mr. Foley 3/15
Amendment No. 2, liberalization re multi-unit residential
3/15
structures, approved
Amendment No. 3, exemption of credit by States and municipalities for nonresidential property,
3/29
approved
4/10
Amendment No. 4 approved
Amendment No. 4, press statement not to be issued, ad4/12
vice to FRBanks
Amendments and participating share in cooperative development (X-40), statements to be
4/13
published in FRBulletin
Amendment re leasing arrangements, copy of proposal
4/17
sent to FRBanks for comments
Amendment No. 5 and proposed registration statement,
copy sent to Housing and Home Finance
Agency for views
/2
5
Amendment No. 5, registration statement, approved
5/3




556

2339

2360

1051
1020

1270
283
326

413
415
446
503
528
587
589
695
766
802

811
842
953
965

Re

313
Pages.
gulations, Board of Governors:(continued)
X: (continued)
Amendment to and Newspaper Printing Plant (X-47), state5/11
ments to be published in FRBulletin
Amendment No. 4, application to condemnation proceeding, in case of Memphis Public Housing
Authority projects, advice to FRBank of
/
6 13
St. Louis
Amendment to provide exemption for residences destroyed
or damaged by floods in Midwest, proposed
8/16
by Mr. Leedy
Amendment proposed to exempt construction of houses to
replace those damaged by flood, views of
8 17
/
Messrs. Leedy and Johns requested
construction for
Amendment to exempt nonresidential
national defense, staff to prepare for
8/23
consideration
ricken areas of MidAmendment re exemptions in flood-st
8/23
west, staff to prepare for consideration
construction in
Amendment to exempt new residential
/
8 28
floodstricken areas of Midwest, dropped
effective upon signing
Amendment No. 6 approved, to be
by President of Defense Housing and Community Facilities and Services Act of
/8
8 2
1951
9/6
to be published in FRBulletin
Amendment, statement
Amendments made necessary by section 602 of Defense
Housing and Community Facilities and
Services Act of 1951, advice to Con9/19
gressman Ford
proposed re unavoidable sales delay, comments
Amendment
10/2
of FRBanks requested
No. 7 approved, FRBanks to be advised and
Amendment
11/13
press statement to be made
Amendment proposed re leases on nonresidential property,
11/21
comments of FRBanks requested
Amendment No. 7, literal interpretation of, advice to
12/7
FRBank of Philadelphia
Amendment No. 7, advice to FRBanks re, information on
secondary credit exemptions requested in
connection with monthly enforcement
12/20
reports
12/20
Amendment No. 8, nonresidential leases, approved
American Can Company, Baltimore, Md., building to be
constructed as enlargement to considered
nonresidential, advice to FRBank of
12/12
New York
American National Life Insurance Company of Galveston,
Texas, application to case, advice to
5/11
FRBank of Dallas




1039

1333
1761

1774

1803
1803

1827

1829
1880

1968
2037
2238
2296
2387

2478
2467

2406

1038

314
Pages
Regulations, Board of Governors: (continued)
X: (continued)
Amortization payments where maturity of credit is less
than maximum permitted by regulation, ad2/23
vice to FRBanks
Amortization provision in Schedule III of Supplement,
interpretation to be published re, advice
to Connecticut General Life Insurance
2/28
Company
5/1
Animal hospitals, application to, advice to FRBanks
Appraisals predicated in part on capitalization of
long term leases, in compliance with
2/23
section 2(i)(4)(B), advice to Chicago
Appraised value where there is to be construction on
3/6
improved real property, advice to FRBanks
Authority for, reply to inquiry from Mr. James H.
McCarthy
7/25
Authority, removal of limitation on favored by FAC at
appropriate time
9/18
Authority, removal of restrictions of Defense Production
Act Amendments of 1951, comments of FRBanks
requested for report on legislative proposals for 1952
11/2
Authority over, amendments to Defense Production Act to
eliminate restrictions sent to Office of
Defense Mobilization
12/4
Bakeries, application to structures used for, advice to
FRBank of St. Louis
4/11
Bank of America and General Petroleum Corporation agreement, applicability of section 6(b), advice to FRBank of San Francisco
3/26
Basement homes, completion of, advice to FRBank of Min8/7
neapolis re application to
Bishop National Bank in Honolulu, credit for building
residence in United States subject to,
advice to FRBank of San Francisco
5/22
Borrower's statements, revised forms to be sent to
FRBanks as soon as clearance effected
1/15
Borrowers Statement, revised form to be completed soon,
advice to FRBank of San Francisco
1/18
Builders' profits, determination of, limitation not to
be established, advice to FRBank of San
5/16
Francisco
Building for newspaper printing, exempt if used solely
for printing newspaper, advice to FRBank
3/15
of San Francisco
3/16
Advice to FRBank of Dallas
Building to be leased in part to Governmental agencies,
inquiry from Mr. John P. Clark, advice to
FRBank of San Francisco
8/23
Buildings essential to operation of churches, schools,
and hospitals, question of exemption from,
comments of FRBanks requested
12/7



435

468
951

436
502
1623
1952

2202

2347
785

672
1705

1161
123
147

1097

600
612
1813

2389

315
Pages
Re

Mations, Board of Governors: (continued)
X: (continued)
Casualty damaged structure, application of section 5(e)
to borrower on, advice to FRBank of Dallas
Church units, applicability to new construction in connection with, advice to FRBanks
City of Baltimore, subject to regulation under section
2(a)
Cold storage plant for grapes, advice to FRBank of San
Francisco re applicability
Combination residence and professional office, application to loan for, advice to Mr. R. S. Buck
Combination construction and permanent financing loans,
interpretation of section 5(b), advice to
FRBank of Cleveland
Commercial field, extension of controls to new construction in, comments of Mr. Harrison of
Department of Commerce requested
Commercial properties, memorandum on revision of regulation and schedule of meetings re approved
advice to FRBanks re conduct of
Committees,
Commodity Credit Corporation loans, application to,
advice to FRBanks
sale plan for new residences submitted by
Conditional
Mr. Robert W. Barnett, not in compliance
with, advice to FRBank of Minneapolis
Conferences:
Regional, to be held in June, advice to FRBanks on
schedule
Regional, rescheduled for September, advice to
FRBanks
To be held September 12-14, advice to FRBanks
Copies of agenda to be sent later to FRBanks
Agenda sent to FRBanks
Question of holding future, and type of meeting,
comments of FRBanks requested
To be held in 1952, advice to FRBanks
Construction of residence on lot acquired more than 12
months ago, determination of value, advice
to FRBanks
Construction of building by Mr. D. R. Blackburn et al
at Victoria, Texas, not exempt from, advice
to Senator Lyndon Johnson
Construction and mortgage outlook, reply to Congressman
Wickersham on questions of Washington
Letter of National Association of Home
Builders
Construction of residential units in 1952, advice re
availability of manpower and materials
requested from Office of Defense Mobilization




5/1

951

5/15

1088

3/2

480

4/27

906

2/15

352

/
89

1724

1/23

178

1/23
4/11

169
782

1/4

36

12/18

2449

5/7

986

5/22
8/23
8/28
9/7

1149
1810
1841
1896

10/3
10/31

2043
2191

5/16

1098

5/24

1182

/4
61

1343

8/3

1685

Re
, gulations, Board of Governors: (continued)
X: (continued)
Cook Paint & Varnish Company, Kansas City, No., applicability to new structure, advice to FRBank
of Kansas City
5/10
Cooperative developments, borrowing for purchase of
shares, subject to, advice to FRBanks
3/23
Cotton warehouse connected with cotton compress, advice
to FRBank of Dallas re applicability
4/27
Credit unions, relaxation recommended in resolution of
East Bay Chapter of California Credit Union
League, reply to Mr. Doig
8/23
Cut-off date of January 1, 1951, in clause (2) of section 6(b), advice to FRBanks re extension
2/16
Defense areas, reply to letter from Mr. W. P. Allen
2/2
Defense construction areas:
Alameda County, request of Oakland Chamber of Commerce for declaration as critical area for
housing, reply to Mr. Sparling
2/9
Alamogordo-Tularosa, New Mexico, approved
7/9
Arco, Blackfoot and Idaho Falls, Idaho, approved,
advice to Mr. Foley
3/29
Amendment to procedure for approval, advice to Mr.
Foley
43
/0
Barstow, Calif., approved
6
/26
Borger, Texas, approved
Brazoria County, Texas, area approved
6 36
72
/
Brazoria County, Texas, programming of additional
housing units approved
8/30
Bremerton, Washington, approved
6/5
Camp Cooke, California, approved
6/1
Camp Lejeune-Jacksonville, North Carolina, approved
7/26
Camp Pendleton area, California, including Oceanside,
Vista, and Carlsbad, approved
6/11
Camp Roberts, California, area, including Paso
Robles, San Miguel, and Atascadero communities approved
6/26
Colorado Springs, Colorado, designation approved
5/3
Columbus, Indiana, area approved
7/16
Corona, California, approved
5/1
Dana, Indiana, approved
7/3
Dover, Delaware, approved
7/26
El Centro-Imperial, California, approved
7/3
Fort Leonard Wood, Rolla, Missouri, approved
5/18
Hanford AEC Operations Area, Washington, including
conununities of Richland, Pasco, Kennewick,
Prosser, Grandview, and Sunnyview approved
6 6
/2
Huntsville, Alabama, approved
7/3
Idaho Falls, CR-1 of Housing and Home Finance Agency
amended to include, approved by Board
4/11
Instructions of Housing and Home Finance Agency to
suspend credit controls approved
83
/0




316
Pages

1021
657

906
1814
361

243

318
1516
698
932

1433
1)483
1845
1246
1229
1628
1293

1433
963
1552

937
1484
1628
1483
1118
1435
1483
785

1846

Re
gulations, Board of Governors: (continued)
X: (continued)
Defense construction areas: (continued)
Killeen-Fort Hood, Texas, approved
Lancaster-Palmdale-Mojave, California, approved
Las Cruces, New Mexico, approved
Lone Star Steel Company, Texas, approved
Mineral Wells, Texas, approved
Miramar-Escondido Sub-area, California, approved
Norfolk-Portsmouth, Virginia, area, approved
Othello, Washington, area, approved
Paducah, Kentucky, schedule of terms approved
Patuxent, Md., approved
Procedure re concurrence by Board in, no change to
be made, staff member to be designated to
attend meetings of Interagency Critical
Areas Committee
Quad Cities, Iowa-Illinois area approved
Sampson Air Force Base (near Ithaca), New York area,
approved
San Diego, California, area approved
San Marcos, Texas, approved
Savannah River, South Carolina, schedule of terms
approved
Authorization for construction of additional
units at present and total of 3600 as
specified, advice to Mr. Foley
Star Lake, New York, approved
Tooele, Utah, area, including Magna and Grantsville
communities approved
Tullahoma, Tenn., approved
Valdosta, Georgia, approved
Vallejo, California, area approved
Wichita, Kansas, area approved
Wright-Patterson Air Force Base (Dayton) Ohio area,
approved
Department of Agriculture, alteration of building in
Gainesville, Fla., for use, subject to
Regulation, advice to Senator Holland
Developments, statement sent to National Security Resources Board
Determination of value of residential property (X-56),
statement to be published in FRBulletin
Dining cars, sales of, advice to FRBanks re application
Down payment requirements, reply to letter from Mr.
William A. Cochran
Effects:
Question of tightening of terms, to be discussed
at FAC meeting
Question of tightening of terms, no changes to be
recommended by FAC at present




317
Pages

7/26
8/3
7/9
7/26
7/9
6/11
7/31
7/31
2/27
7/26

1629
1685
1514
1627
1515
1294
1656
1657

5/1
6/19

938
1371

7/31

1656

4/24
6 5
/

449
1627

878
1246

2/27

449

5/25
5/15

1192
1083

62
/6
6/11
6/11
6/19
7/16

1434
1293
1295
1371

7/31

1656

12/27

2503

1/12

116

7/12
7/17

1544

2/12

324

2/1

235

2/20

399

1553

1563

318
Pages
Mations, Board of Governors: (continued)
X: (continued)
Effects: (continued)
Estimated housing starts for 1951, memo of Interagency Technical Committee on Real
4/17
Estate Credit Controls
starts, and question of tightening
Rate of housing
of terms, discussion of Messrs. Norton,
Riefler, and Mr. Noyes with Mr. Foley,
4/24
matter to be studied further
Federation of Labor expressed in
Views of American
6/12
letter from Mr. Shishkin
Economy, comments re situation in Utah and value of
6/21
older houses sent to Senator Watkins
Employment situation in building trades in Temple, Texas,
6/22
reply to Mr. Berry
Enforcement:
Compliance of insurance companies, investigative
1/10
procedure approved, advice to FRBanks
Information to be furnished to FRBanks re Registrants, letters to Home Loan Bank Board
3/16
and Department of Agriculture
Program, information to be furnished to FRBanks,
requests sent to Chief National Bank
Examiner, FDIC, and Federal Security Agency 4/5
4/17
Report, draft sent to FRBanks for comments
Program, duplicate of transmittal letter and reports
of investigation to be sent to Board,
advice to FRBanks
5/9
Reports, form FR 566, copies and instructions sent
6/13
to FRBanks
8/14
Procedure approved
Program, topic for discussion at Presidents Con9/5
ference
9/17
Conference, review of discussions by Mr. Noyes
Program, discussion at Presidents Conference of
enforcing compliance rather than criminal
10/4
prosecution
Program, consideration of suggestions at Presidents Conference to be deferred until Mr.
10/15
Evans' return from Europe
Assignment to other Government agency not favored,
12/4
Board to consider policies further
Escrow arrangement and May 1 date, exemption under
section 5(k), advice to FRBank of Philadelphia on correspondence with Fidelity
4/27
Philadelphia Trust Company
Esso Pennsylvania Lease Trust indenture, considered
firm commitment under section 6(b), advice
11/5
to Mr. Fiechter
Exemption:
1/18
Reply to application of Mr. H. H. Kumler for




816

879
1317
1395
1408

93

610

740
841

1003
1335
1738
1870
1944

2051

2107
2347

907

2205
147

319
Pages
Il
llations, Board of Governors: (continued)
X: (continued)
Exemption: (continued)
Advice to Mr. Stiles re purpose of Section 5(g)
Credit fully secured by cash value of investors
syndicate contract, reply to question from
FRBank of Atlanta
Under section 5(g) in connection with construction
of retail center in St. Louis County,
advice to FRBank of St. Louis
In connection with eminent domain, condemnation, or
foreclosure proceedings, applicability of
sections 5(e) and 6(e), advice to FRBanks
Existing houses, application to, reply to letter from
Mr. W. H. Forsyth
Existing houses, reply to letter from Mr. McCarthy on
application to
Existing structures, views of Board re need to be requested at hearings on Defense Production
Act
Extension of:
Authority, draft of legislation to be prepared for
inclusion in omnibus bill
Additional credit up to maximum loan value to cover
amount stolen by contractor, advice to
FRBank of Boston re inquiry from Mr.
Helmund of Middlesex County National Bank,
Somerville, Mass.
Credit, inquiry re construction of Evergreen Park
Shopping Plaza, Inc., advice to FRBank of
Chicago
Amendment to Defense Production Act of 1950 to extend authority until June 30, 1953, and to
expand authority, to be presented
Credit by Registrant, applicability of section 5(k),
advice to FRBank of Atlanta
Credit after 32-day period, advice to FRBanks re
section 5(k)
Farm:
Property structures, advice to FRBanks re application
Residence, short-term construction credit, advice
to Governor Duggan, Department of Agriculture, re application
Residences, inquiry from Mr. Miller re construction,
advice to Congressman Anderson
FRBulletin:
Statements re amended Regulation X, loan values
computed on family unit basis, and Commodity Credit Corporation loans to be
published in




1/22

160

2/14

342

8/7

1705

11/30

2330

2/9

316

5/29

1211

5/8

990

1/9

81

1/25

198

3/14

585

3/27

683

4/19

862

7/31

1664

4/9

753

1/10

91

3/14

584

1/16

136

320
Pages
Regulations, Board of Governors: (continued)
X: (continued)
FRBulletin: (continued)
Statements to be published in March issue
Statements re privately owned public warehouse,
church unit, value of lot and residence,
and short-term construction credits to
be published in
Statements re dining cars, unavoidable delay in
credit extension, and casualty exemption
for tenants to be published in
Statements re Amendment and 4edical Centers and
Clinics to be published in December issue
Fiduciaries, treatment for registration purposes,
advice to FRBank of Chicago
Filling station construction, three party arrangement
by Gulf Oil Corporation for financing
Firm commitments, applicability to financing arrangements previously contemplated or arranged,
advice to FRBanks
Floods in Kansas and other States, designation of disaster areas by FRBanks of Kansas City and
St. Louis, advice to Congressman Scrivner
Food products, structures for processing, applicability
of Section 2(r)(5), advice to FRBanks
Freezing meats and food products, plant exempt, advice
to FRBank of Chicago
Garages, detached on residential property, status of,
advice to FRBantc of San Francisco
Gasoline service station, credits to finance construction and purchase for Joseph White,
advice to FRBank of Boston re possibility
of amendment re section 5(g)
Hardwood flooring and southern hardwoods, effect on
market for, statement of Mr. Dewey to
Senator McKellar re
Home Federal Savings and Loan Association of Des Moines,
Iowa, answer to questions on
Home Loan Amounts at a Glance, review of parts of
publication pertaining to, advice to Mr.
Frank McCabe, Mortgage Bankers Association
of America
Housing starts:
Factors supporting current levels, views of FRBanks
requested
1951, staff to prepare information for Board meeting, suggestion that Messrs. Foley and
Wilson be invited to discussion
1951 compared with 1950, statement of Mr. Norton
at meeting of FAG




3/15

603

/
67

1274

8/13

1733

12/7

2391

/
66

1269

6/21

1397

3/23

659

7/26

1631

3/23

658

3/15

601

10/16

2120

9/19

1969

8/17

1772

2/7

267

12/26

2489

3/8

529

4/10

757

5/15

1063

Re

321
Pages
gulations, Board of Governors: (continued)
X: (continued)
Hydraulic hoists in lubricating department of service
station, financing of installation, advice
12/7
to FRBank of Kansas City
Identification certificates:
1/10
Text approved by Board, advice to FRBanks
For investigators, advice to FRBanks re change in
wording because of extension of Defense
8/2
Production Act
Indianapolis Produce Terminal, Inc., amendment to exempt not desirable, advice to FRBank of
3/27
Chicago
Information re real estate credit sent to Senator
5/21
Johnson
Installation of heating, cooling, and ventilating
equipment, determination as major improvement under section 2(g), advice to FRBanks 10/17
Insurance companies:
Program for investigation adopted, advice to President Allyn of National Association of In2/9
surance Commissioners
Investigation of branch offices for compliance,
3/23
procedure re, advice to FRBanks
Interstate trucking business, only common carriers
classed as public utilities under section
3/12
2(s), advice to FRBanks
Investigation of records, protests of Mr. Noble, advice
4/11
to Senator Knowland
Issuance and terms of, advice to Mr. Gilbert Sorrells,
similar replies to be sent to other in9/13
quiries
Ill., application to,
Johnson Nursing Home of Joliet,
10/25
advice to FRBank of Chicago
FRBank of
Landscaping cost, application to, advice to
5/11
Atlanta
improvement, payment to lessee on property to
Leasehold
revert to owner at expiration of ten-year
lease, not subject to, advice to FRBank of
3/23
Dallas
Leasing:
4/20
And other questions, reply to FRBank of Chicago
Plans of B. E. Turner, Inc., reply to Representative
Hillings and advice to FRBank of San
4/26
Francisco
Arrangements, advice to be given registrants pending
adoption of proposed amendment, information
4/30
sent to FRBanks
Arrangements of United States Plywood Corporation
and Prudential Insurance Company of America,
6/11
subject to, advice to FRBank of New York




2388
92

1676

688
1144

2128

315
659

569
780

1930
2159
1036

662
866

897

926

1296

Re
&llations, Board of Governors: (continued)
I
X: (continued)
Leasing: (continued)
Arrangement of Standard Oil Company, Chicago,
6/12
advice to FRBank of Chicago
Amendment re, draft sent to FRBank of San Francisco
in connection with inquiries from Messrs.
Bredenbeck and Marlow
8/10
Lot and sale of residence, application to plan of
Mr. Edmunds, advice to FRBank of San
9/14
Francisco
9/21
Reply to questions sent to FRBank of San Francisco
Housing under construction in Wheaton, Md., by
Gelman Construction Company, subject to,
11/28
advice to Mr. Hornstein
Legislation to authorize regulation without limitation
to new construction, advice to Office of
1/18
Defense Mobilization
Liberty National Bank and Trust Company, Louisville, Ky.,
financing of branch building, extension of
deadline under section 5(g), not approved
7/11
Liebmann Breweries, Inc., application of clause (5)(i)
of Section 2(r) to one-story building to
12/13
be used by, advice to FRBank of New York
Little Rock, Arkansas, effect on building in, reply to
6/11
letter from Mr. Meeks
Loan value on property purchased preceding extension of
8/30
credit, advice to Mr. Calvin K. Snyder
Loose-leaf serviceldistribution to FRBanks and supervisory agencies of sets approved
4/16
Low income groups penalized by, letter from Mr. Harvey
7/23
to Congressman Johnson
Lumber prices during 1951, reply to letter from Mr. H.
9/27
C. Dewey to Senator McKellar
views of Real Estate
Major additions and improvements,
2/21
Advisory Committee of FRBank of Boston
definition does not inMajor addition in Section 2(g),
clude land, advice to FRBank of Dallas
3/9
Manse for Warner Memorial Presbyterian Church of
Kensington, Md., application to construc8/15
tion of, advice to Mr. Van Koughnet
classification of structures used by
Manufacturing,
4/11
bakeries and other industries
consumer goods, Messrs.
Materials for nondurable
Riefler and Young to discuss availability
3/20
with Mr. Fleischmann of NPA
advice to FRBanks
1/11
Maximum loan values in Supplement,
Maximum maturity of extensions of credit subject to,
1/25
reply to inquiry of Mr. Samuel E. Neel
inflation, reply to letter from
Means of restraining
9/19
Mr. Albert Gersten




322
Pages

1319

1728

1938
1983

2318

144

1527

2412
1296
1846
814
1605
2019
426
556

1753
785

622
110
197
1969

Re
gulations, Board of Governors: (continued)
X: (continued)
Medical centers, clinics, etc., considered "Hospitals"
11/15
under, advice to FRBanks
Memorandum and statement on developments in building
and mortgage lending for period January
2/13
22-26, 1951, discussed
Coal Company, Madisonville, Ky., exemption not
Miners
to be made for, advice to FRBank of St.
6/29
Louis
Missoula, Montana, construction of new two-story building to replace one-story store destroyed
by fire, application of section 5(e), ad/
6 11
vice to FRBank of Minneapolis
Mixed-purpose working capital loan to borrower who
made major improvements to non-residential
structure with non-borrowed funds within
past four months, advice to FRBank of
12/3
Dallas
Morrisville Shopping Center, Inc., Morrisville, Penna.,
construction subject to nonresidential
provisions of, advice to FRBank of Phila11/23
delphia
Mortgage Bankers Association of America, inquiry re
rental of new house and subsequent purchase with deposit and rent applied
7/11
against, advice to Mr. Neil
Mortgage funds:
Letter from Mr. Williamson to Senator Holland on
supply of, similar replies to be sent to
6/5
other inquiries
Letter from Mr. Sechler to Senator Johnson re
6/13
shortage of
Motel without kitchen facilities, subject to, advice to
3/23
FRBank of San Francisco
5/1
Newspaper structure, application to, advice to FRBanks
Nonresidential structure:
Definition of "structure", views of FRBanks re3/26
quested
Before or after completion of major addition, sub6/15
ject to, advice to FRBank of Chicago
Norris-Thermador Corporation Employees' Savings,
Profit Sharing and Retirement Fund Agreement, not exempt under section 5(i),
7/19
advice to FRBank of San Francisco
center at, advice
Oak Ridge, Tenn., proposed commercial
to FRBank of Atlanta re application of
12/7
section 5(m)
Knowland on letter from
Objectives, reply to Senator
5/18
Mr. Pearce
financing of garage
Off-street parking facilities,
construction subject to, advice to FRBank
10/1
of Boston



323
Pages

2263

331

1467

1295

2334

2300

1531

1251
1333
663
950

671
1351

1595

2388
1122

2032

324
Pages
&lotions, Board of Governors: (continued)
X: (continued)
Parking structures, subject to, advice to FRBank of
3/15
San Francisco
Pittsburgh area, comments of Mr. Wimer on effects on
residential construction business in
6/13
Princeton University, questions of counsel for Trustees
of, reply to FRBank of Philadelphia
4/19
Protests, letter to Senator Wiley in reply to nine
8/2
telegrams sent from Madison, Wis.
Prudential Life Insurance Company of America, reply to
inquiry re applicability to case where
proceeds of loans are to be used in part
for new construction, advice to FRBank
2/28
of San Francisco
Public warehouses, elevators, and clinics, classed as
structures subject to, advice to FRBank
3/8
of Dallas
Public warehouse used for storage of grain and other
foodstuffs, not classed as public utility
5/11
under section 2(s), advice to FRBanks
area, letter to
Purchases of homes in Jackson, Miss.,
5/17
Senator Maybank on effects
Purpose, advice to Senator Wiley re letter from Mr.
5/11
Tipple
Letter to Senator Benton on views of Mr. Paul A.
5/16
Deegan
Reply to Congressman Havenner re letters from Mr.
9/14
Louis W. Jones
Purpose and issuance, information sent to Senator
McMahon for reply to protest to Mr. Earle
10/16
Goodenow
Questions from Mr. Guillot on, reply to Senator Con3/22
nally
Radio and television buildings, classed as nonresidential structures under section 2(r), advice
3/8
to FRBanks
Real estate market, discussion at meeting of FAG
9/18
Recommendations re removal of limitations on authority,
9/5
topic for discussion at FAC meeting
Reconditioned residence in new location, advice to
1/24
FRBank of Chicago re applicability to
Registration certificates, reasons and instructicns for
6/1
issuing
Form and suggestions for editing, coding, and
mechanical processing of information sent
6/1
to FRBanks
Registration statement, issuance approved, public
3/29
statement to be made
Authority for and objectives of, reply to inquiry
6/11
from Mr. Bunn, sent to Senator. Hennings




600
1332
861
1676

468

530

1038
1107
1037
1096
1937

2120
648

530
1954
1869
181
1230

1230
698
1291

325
Pages
Regulations, Board of Governors: (continued)
X: (continued)
Registration statement: (continued)
Not required to be filed by lenders in territories
/9
and possessions of U. S., advice to FRBanks 6 1
Authority for and objective of, advice to Congress7/2
man Talle re inquiry of Mr. Earll
Relaxation of, discussion at meeting with Mr. Foley,
staff to make study and submit recommenda7/31
tion
Terms, discussion of reasons for and against, not
favored at present but Board willing to
continue to review situation, Mr. Foley
8/7
to be advised
Terms, statements of Messrs. Foley and Hardy, Mr.
Evans to negotiate with Mr. Foley adjustments in proposed down-payment schedule,
press statement to be issued and conference
8/9
to be held if relaxation approved
of Defense Housing
Terms, to result from passage
8/16
Bill, statement of Mr. Evans
Mr. Thurston, to
Statement re effects prepared by
be sent to President in connection with
8/28
statement to be made on S. 349
advice
Repairs for tobacco warehouse of Mrs. Talmadge,
4/27
to Senator George
Repairing, servicing, or maintaining electric motors,
proposed addition to property of Moran
Electric Service, Inc., question of ex11/28
emption, advice to kRBank of Chicago
1/26
Production
Report to Joint Committee on Defense
4/10
Board meetings
Reports to be made at Tuesday
5/1
Report by Mr. Noyes on developments
Act Amendments of
Restrictions in Defense Production
1951, elimination favored, statement in
draft of letter to Mr. Correa, further
11/13
discussion to be held
1/2
to FRBanks re proposed provision
Revision, advice
multiple fnmily or multi-unit resiTo include
dences, draft approved subject to clearance
by Housing and Home Finance Agency and
Office of Defense Mobilization re defense
/
14
housing and veterans' preferences
As amended effective January 12, 1951, approved
subject to Administrator of Housing and
1/5
Home Finance Agency
To include nonresidential property, comments re
1/23
proposed amendments requested from FRBanks
To cover commercial properties, draft to be pre2/8
sented to Board
Of terms, to be deferred pending signature by
8/21
President of Defense Housing Act




1378
1470

1651

1695

1714
1763

1828
905

2319
207
757
936

2231
14

28

38
176
270
1783

Re

326
Pages
lotions, Board of Governors: (continued)
X: (continued)
Revision: (continued)
To conform with defense housing bill, Mr. Noyes to
continue to work with Mr. Hardy on terms
to adhere with those of legislation
8/23
Safeway Stores, applicability to heating, cooling and
ventilation equipment, telegram to FRBank
of San Francisco approved after discussion
of difference of opinion
9/27
Sales of new construction by individuals who purchased
property on terms under, advice to FRBank
of San Francisco and other FRBanks to be
advised
5/11
Sales plan of Miller Homes Inc., a Detroit builder,
advice to FRBank of Chicago
10/26
Savannah River and Paducah, Kentucky, Installations of
AEC, procedure for exceptions approved
advice to Housing and Home Finance Agency
3/6
Savannah River plant in South Carolina, construction of
temporary housing, survey of project to
determine need for relaxation of terms requested, letter to Housing and Home Finance
6/15
Agency
Secondary borrowing after primary financing guaranteed
by VA, reply to inquiry of Major Mitterling 1/30
Section 2(1), maximum loan value, advice to Mr. Dupuy
re formulation of Regulation and consultations with real estate experts
9/27
Section 2(i)(2)(B), application to extension of credit
more than one year after acquisition of
property, advice to FRBanks
6/12
Section 5(b), renewal of note having maturity of not
more than eighteen months, advice to
FRBanks
5/25
Section 5(b), interpretation requested by Tower Grove
Bank and Trust Company, St. Louis, advice
to FRBank of St. Louis
7/24
5(e), exemption applicable to tenants as well
Section
as owners of destroyed or damaged structures,
advice to FRBanks
8/1
Section 5(e), extension of exemption to tenants of
structures destroyed by fire, advice to
8/6
FRBank of Chicago
contract to sell where
Section 5(f), applicability to
vendee rents house prior to purchase, reply
22
/
to inquiry from Mr. Rothenberg
Section 5(f), exemption, application to conditional
sale contract, advice to FRBank of Dallas
9/25
5(f), applicability to case where buyer rents
Section
house prior to purchase without applying
rental payments on purchase price, contract
exempt under, advice to FRBank of Dallas
10/9




1802

2014

1035
2178

499

1351
223

2021

1318

1191

1617

1666
1691

244
2004

2081

Re

327
Pages
glilations, Board of Governors: (continued)
X: (continued)
Section 5(g), monthly reports to be made instead of
1/23
weekly, advice to FRBanks
request for exemption on behalf of Mrs.
Section 5(g),
Bertha Henningsen, advice to FRBank of
5/10
San Francisco
August 1 not possible,
Section 5(k), extension to
3/8
advice to FRBank of Dallas
extension of time to permit
Section 5(k), amendment to,
financing arranged in good faith under
present, advice to FRBanks of Dallas and
3/23
New York
5(k), no objection to completion of arrangements
Section
made by registrant without knowledge of
amendment No. 2, advice to FRBank of San
Francisco
4/27
Section 5(1), change from "30 months" to "36 months"
contemplated in next amendment, advice to
10/8
FRBank of Dallas
S. 1717 and H.R. 3871, effect on, statement of Mr.
6/26
Noyes, no action to be taken
S. 1717, to amend and extend Defense Production Act of
7/24
1950, memoranda to be submitted
Sepulveda Park Apartments, Beverly Hills, Calif., question re loan guaranteed in part by Veterans
Administration, advice to FRBank of San
2/26
Francisco
Short-term construction credits for multi-unit residence
or nonresidential structure, protests of
Mr. Falk re, advice to FRBank of San
8/23
Francisco
Short-term residential construction credits, advice to
FRBank of Chicago re two types of financing
9/18
involving
Sinking fund mortgage loans, reply to FRBank of New York
re inquiry from New Jersey Savings and Loan
7/6
League
Solar Corporation, enlarged building and lease subject
6/26
to, advice to FRBank of Chicago
Statement of Borrower, rubber stamp legends for use of
affiliates of Northwest Bancorporation to
comply with, advice to FRBank of Minneapolis 1/25
Statements of Borrowers, revised forms approved, copies
1/25
sent to FRBanks
2/14
Revised forms, copies sent to FRBanks
Use re loans by commercial banks, advice to FRBank
4/30
of St. Louis
Statement of facts filed by Registrant pursuant to
clause (2) of section 6(b), reply to ques3/23
tions from FRBank of Boston




175

1021
531

662

907

2074
1418
1608

443

1815

1963

1507
1432

195
199
341
925

661

Re

328
Pages
gulations, Board of Governors: (continued)
X: (continued)
Street assessment bond with unpaid balance, application
of section 2(j) and section 4(a), advice
/0
11
to FRBank of San Francisco
Street paving done by cities under Article 1105b,
Vernon's Texas Civil Statutes, advice to
FRBank of Dallas re inquiry from Goggans
3/12
& Ritchie
7/18
Structure, definition of, advice to FRBanks
Superstructure on basement house, loan to finance construction of, advice to FRBank of Minneap2/26
olis
Supplement to, comments of Mr. Philip Lieber on, advice
re methods of computation sent to FRBank
10/16
of Dallas
Survey of building and mortgage lending field to de1/22
termine effects of, advice to FRBanks
Sutton Realty Company of Providence, R. I., application for exemption under section 5(g),
denied as submitted after expiration date,
6/22
advice to FRBank of Boston
Terms, tightening recommended by Voluntary Credit Re3/20
straint Committee
Mr. Norton to discuss with Mr. Foley and Messrs.
Riefler and Young to discuss question of
3/20
materials with Mr. Fleischmann
Discussions with Mr. Foley, views to be reported
after further study by Housing and Home
3/29
Finance Agency staff
with Mr. Foley and
Mr. Norton to review situation
report back to Board
4/17
Question of tightening, discussion of Messrs. Norton,
Riefler, and Noyes with Mr. Foley, matter
4/24
to be studied further
5/1
to be continued
Study by staff
5/3
at FAC
Topic for discussion
5/15
not favored at present by FAC
Changes
Telegram from Mr. Warren L. Williams to Congressman
8/9
Horan, reply to
construction of building on Sherman
Thomson Estate,
Avenue, Coeur d'Alene, Idaho, owned by Dr.
John T. Wood as trustee for, advice to
12/7
FRBank of San Francisco
River, not exempt under secTrailer courts at Savannah
1/0
22
tion 5(m), advice to FRBank of Atlanta
U. S. Department of Agriculture, building to be occupied
in Gainesville, Fla., proposed improvements
12/26
subject to, advice to FRBank of Atlanta
where residence is to be built
Value, determination
upon lot acquired six years ago, advice to
3/12
FRBank of Atlanta




97

571
1580

442

2122
158

1409
621

622

700
818

879
936
970
1060
1722

2390
2479

2489

570

Re
EAlations, Board of Governors: (continued)
X: (continued)
Value, determination, issuance of interpretation of
section 2(i)(2)(B)(ii), advice to FRBank
5/16
of Dallas
Value under section 2(i)(1), value of labor to be
performed by borrower to be included in
estimated cost of major improvement, ad8/23
vice to FRBank of San Francisco
Valuation of residences, advice to FRBank of Chicago
11/8
re statements of Mr. Pollak
Veterans' loan program of State of Wisconsin, application of section 6(f) to, advice to FRBank
/
64
of Chicago
Violations:
Bush-Burns Realtors, St. Louis, Mo., case closed
as inspection of books allowed by investi9/21
gators
C. A. Tindall, d.b.a. C. A. Tindall & Company,
Memphis, Tenn., order for investigation
12/11
approved
Dennstedt Company, San Diego, Calif., investiga9/10
tion to be continued by FBI
Gould Investment Company, Beverly Hills, Calif.,
5/8
order directing investigation
Procedure for reference to Department of Justice
and holding of administrative hearings,
to be reviewed by Mr. Norton with Messrs.
Tounsend, Vest, and Carpenter, present
procedure to be continued pending adoption
6/19
of changes
Robert A. Burns, d.b.a. Bush-Burns Realtors, St.
/
6 13
Louis, No., order directing investigation
Rules of Procedure, amendments re issuance of subpoenas and payment of witness fees
6/28
approved
Texas Mortgage Company, Houston, Texas, order
9/27
directing investigation
Voluntary credit restraint committee Bulletin No. 4
re, to be revised if no objection by
9/6
Housing and Home Finance Agency
floor in new residence
Wall to wall carpet nailed to
to be included in appraisal under, and not
subject to Regulation W, advice to FRBank
3/2
of Dallas
used in connection with
Warehouses and office buildings
manufacturing business, advice to FRBanks
3/2
re applicability of
clarification of proWarehouses and office buildings,
3/13
visions re, advice to FRBanks
by Kilbane Brothers, Inc.,
Warehouse to be constructed
for Abbott Laboratories, subject to,
8/7
advice to FRBank of Chicago



329
Pages

1098

1815
2220

1238

1983

2395
1902
996

1368
1330

1454
2022

1873

483

479
575

1703

330
Pages
NNaations, Board of Governors: (continued)
X: (continued)
Whittier College Heights development, status of, advice
2213
11/7
to Mr. Gersten
Wisconsin State veterans program, application to, advice
6 22
/
to FRBank of Chicago
1409
Written minutes not sufficient to establish written
agreement under clause (1) of section 6(b),
3/26
670
advice to FRBanks
Written minutes of executive committee, not sufficient
to establish written agreement under
clause (1) of section 6(b), advice to
3/26
671
FRBank of Dallas
Leave:
Amended to reduce annual leave to 23 days for 1951 and
20 days each year thereafter in order to
conform with Government leave program,
provision re use of leave before June 30,
9/17 1943
1952, not adopted
Annual and sick, no change to be made in policy at
present
5/15 1081
Revision to conform in general to Government policies
11/13 2222
re annual and sick leave approved
:
Travel
Amended to increase per diem for Board members to $15
and for heads and assistant heads of
divisions to $12 and to include other
927
4/30
technical changes
928
As amended
4/30
Board members, requeststo be submitted to Mr. Norton
on behalf of Personnel Committee in
1312
6/12
absence of Mr. Evans
4101,1_ .
1205
5/28
=
ile 4t1ons, Retirement System, amendments approved
tions, Treasury Department:
867
,
Re Sayings bonds, payment of, change in, advice from Mr. Bartelt 4/20
ations with dealers in securities:
•1
luck, J. C., service as director of National State Bank of
9,
Newark, N. J., and of First National Bank el.-6 12,e.
N. J.,
and Trust Company of Montclair,
1158
5,/22
relationship prohibited
Hanau, K. J., service as director of National State Bank
,
t pc.ce,.-1
of Newark, N. J., and of First National
Bank and Trust Company of Montclair,
5/22
1158
N. J., relationship prohibited
Iiickey, Matthew J., Jr., service as director of Chicago
National Bank prohibited by section 32 of
1 1
/0
90
Banking Act of 1933
Kidder & Company
Martens, Harold C., service with A. M.
and as director of First National Bank
of Clearwater, Florida, applicability of
838
4/17
section 32 of Banking Act of 1933




Rei
ations with dealers in securities: (continued)
Open end investment trusts, interlocking relationships involving, amendment to permit service of
officers, directors and employees in member banks, to be considered at Presidents
Conference
Comments of FRBanks to be requested re amendment to
Regulation R and solution of problem
Proposed amendment to Regulation RI comments of FRBanks
requested
Existing ruling to be made available to supervisory
authorities instead of amending Regulation
R, advice to FRBanks
Interlocking relationships (S-1329), statement to be
published in FRBulletin
Relatives:
Appointment at Board, policy re to be continued, but rule
to be set aside whenever circumstances
warrant
Renegotiation Act of 1951, letter to Bureau of the Budget requesting that Board not be designated as
Department under
Mrs. P. W., Regulation WI letter to Representative
Wolverton re down payments for appliances
and television sets
Re
P°Iting service:
R. L. Polk and Company, Detroit, Michigan, semimonthly
service for sales of new passenger cars
in 12 cities, subscription to be continued for last half of 1951

ReP°rts:

Banking conditions in FRdistricts, to be discontinued,advice
to FRBanks
Boothe, Gardner L., II, review of applications filed for
defense loans
Bureau of Engraving and Printing, on transfer of material
to U. S. Depository at Fort Knox, Ky.,
Mr. Bartz to be available for further
service on committee
Committee of Four, interim report on restraint of private
credit expansion to be postponed
Appointed by President, proposed revised draft of
interim report, to be studied prior to
further discussion
Consumer credit controls in Canada, Messrs. Heath and Shay
to report on
Consumer credit outstanding during first quarter of 1951
as compared with that period in 1950, to
be prepared by staff
Co
nsumer credit matters, by Mr. Noyes




331
Pages

2/28

466

3/9

558

3/20

628

5/14

1047

67
/

1274

6/14

1340

64
/

1239

5/1

949

8/6

1690

1/15

120

5/22

1151

6/6

1259

4/24

883

4/26

894

4/17

820

4/17
5/1

935

820

332
Pages
11eP°rts: (continued)
Consumer durable goods, special report on position and supplementary memo on sales and stocks of
passenger automobiles, copies to be sent
to House Banking and Currency Committee
Credit, report of task force subcommittee on mandatory control, report submitted to Mr. Wilson, with
statement of dissent from Mr. Vest re Federal Reserve as administrative agency
Developments in consumer, real estate, and stock market,
suggestion of Mr. Vardaman for regular
reports on
Brief, reports to be made at Tuesday Board meetings on
consumer, real estate, stock market, guaranteed loan program, and voluntary credit
restraint program
Consumer, real estate, etc., to be made on bi-weekly
basis at Board meetings in absence of
unusual developments
Dembitz, Lewis N., on international financial developments
and review of foreign missions and requests for technical assistance
Earnings and dividends, FR 107b, forms and instructions
sent to FRBanks for semiannual report
State member banks for 1951, copies of form FR 107
sent to FRBanks
Foreign Service Economic Reporting, survey by Bureau of the
Budget, Board to Cooperate in adoption of
proposed improvements
Guaranteed loans, to be submitted on Form 579, advice to
FRBanks
Guaranteed loans under Regulation V, revised form 579 and
instructions sent to FRBanks
Holding company affiliates, annual, advice to FRBanks re
1951
Industrial and commercial loans, weekly reports, information re outstanding commitments and loans
requested, advice to FRBanks
1(3int Committee on Defense Production, semi-monthly reports
'
re activities under Defense Production Act
to be submitted to, advice re guarantee of
defense loans, real estate credit, voluntary agreements, and consumer credit
Report for first half of February on Board activities,
copy sent to Office of Defense Mobilization
Report on Board activities for last half of March
Information re operations under authority of Defense
Production Act sent to Chairman Maybank
nsas-Missouri flood disaster rehabilitation, status report
and comments on disaster bills sent to
Mr. Howse




5/31

1216

3/15

592

4/3

716

4/10

757

4/17

829

4/5

728

5/31

1220

11/30

2328

2/13

336

2/1

231

2 23
/

433

12/20

2476

5/14

1044

1/26

207

2/21
4/12

428
802

10/12

2096

8/13

1729

333
Pages
4 K)rt5: (continued)
Marget, Arthur W., report on trip to Europe, attendance at
annual meeting of Bank for International
Settlements and visits to central banks
Noyes, G. E., on consumer credit developments
Outside business and teaching activities of members of staff
of Board
Paraguay, report of Messrs. Grove and Olson on mission to
Powell, O. S., voluntary credit restraint program, report
on developments
Report on inventory situation resulting from decline
in volume of retail buying and problems of
business concerns and banks
Real estate credit matters, by Mr. Noyes
Regulation X enforcement, form FR 566, copies and instructions sent to FRBanks
Draft sent to FRBanks for comments
Section 5(g), monthly reports to be made instead of
weekly, advice to FRBanks
Monthly enforcement, information requested from FRBanks
on secondary credit exemptions in connection with
Reserve requirements, legislation to increase, task force
subcommittee report to be submitted, discussion of loan expansion plan and plan
for increase in primary reserves, statement of Mr. Young on
Task force committee report on, discussion of plans,
to be considered further and to be discussed with Mr. Martin before submission
to Wilson committee
Draft of second report by task force prepared by Mr.
Young, to be presented to committee for
discussion
Second report of task force committee, discussion of
alternative plans, Mr. Martin to take
up with Wilson Committee
Schmidt, Charles H., memo on recent developments in stock
market, discussion of memo
Stabilization of msrket in public securities and controlling inflation of private credit, task
force subcommittee to submit report,
statement of Mr. Szymczak on
Stock market developments, report by Messrs. Szymczak and
Young
Task forces to be appointed by Mr. Wilson to make reports
to committee on control of private credit,
reserve requirements, and stabilization of
market for public securities
Thomas, Woodlief, open market operations during recent
weeks




81
/4
5/22

1735
1151

12/18
9/4

2442
1858

5/22

1151

5/28
5/1

1196
936

6/13
4/17

1335
841

1/23

175

12/20

2478

3/15

594

3/20

618

3/27

681

4/3

716

9/27

2015

3/15

594

5/1

936

3/
8

524

1/9

83

334
Pages
Reports
: (continued)
Thomas, Woodlief: (continued)
On developments in money market and effects of increase
in member banks reserve requirements
On recent developments in Government securities market
On Government securities market developments
On developments in Government security market
On developments in Government security market
Review of developments in Government securities market
Report on Government securities market
On developments in Government securities market
On developments in Government securities market
On developments in Government securities market
Report on developments in Government securities market
On Government securities market and comments on reaction
to recent Treasury announcement for refunding of securities maturing in June and July
On recent developments in Government securities market
On developments in Government securities market
On developments in Government securities market
Report on developments in Government securities market
On developments in Government security market
On developments in Government securities market
Report on developments in Government securities market
Report on developments in Government securities market
Report on Government securities market
Report on open market developments
On developments in Government securities market
Report on developments in Government securities market
Report on developments in Government securities market
V-loan program, report on status presented by Messrs. Noyes
and Boothe
Report by Mr. Boothe on status
Voluntary credit restraint program, report of Mr. Powell
on developments
Report by Mr. Powell on progress
Young, Ralph A., developments in stock market and review of
consumer credit developments
Ioungdahl, C. Richard, report on Government securities
market
Report on developments in Government securities market
Report on developments in Government securities market
Report on recent developments in Government securities
market
On developments in Government securities market
Report on Government securities market
II
ePorts on bills:
Conversion of national banks into and their merger and consolidation with State banks, proposed
Treasury bill, report to Bureau of Budget




1/16
2/27
3/6
3/8

124
446

3/20

618

3/27
4/3
4/10
4/17
4/24

676
716
756
819
877

5/1

934

6/5
6/12
6/19
6/26
7/3
7/17
7/24
7/31
8/7

1241
1298
1363
1418
1478

493
525

1554
1608

9/11
10/30
11/6
12/20

1644
1692
1783
1915
2182
2206
2460

4/17
5/1

829
936

4/17
5/1

937

4/17

820

5/22
7/10
8/14

1150
1517
1735

9/4
11 2
/7
12/27

2306

2492

/
87

1703

8/21

829

1854

335
Pages
Nocrts on bills: (continued)
Defense housing, draft of bill to assist provision of housing and community facilities and services
required in connection with national defense, comments sent to Bureau of Budget
Defense Production Act, letter to President of United
States on amendments to
Farm Credit Act of 1933, Department of Agriculture draft
proposal to amend re commissions on debentures sold by Central Bank for Cooperatives, etc., report sent to Bureau of the
Budget
H.R. 160 to amend section 5192 of Revised Statutes re reserves of national banks in territories
and possessions of U. S., report sent to
Bureau of the Budget
H.R. 160, to amend section 5192 of Revised Statutes re
reserves of certain national banks, no
objection to enactment, report to House
Banking and Currency Committee
H.R. 405 to amend Administrative Procedure Act re employment of members, etc., of Government
agencies, information sent to Congressman
Celler
H.R. 2268, to authorize payment of interest on Series E
savings bonds retained after maturity, no
objection to, report to Bureau of the
Budget
H.R. 2703 and H.R. 2704, to encourage holding of savings
bonds until maturity, reply to Congressman
Multer
H.R. 3733, to disallow amortization deduction in renegotiation of contracts, report to Bureau of the
Budget
H.R. 3733, to disallow amortization deduction in renegotiation of contracts, report to Bureau of the
Budget
H.R. 5278, direct loans under Servicemen's Readjustment Act
in areas of large population where private
4 per cent capital is not available, report
to Bureau of the Budget
H.R.
5745, to permit Federal National Mortgage Association
to make commitments to purchase certain
mortgages, report to Bureau of the Budget
Merger of national banking associations and State banks with
national banks, views on bill proposed by
Treasury Department
Section 5136 of Revised Statutes, draft of bill to amend re
securities issued by Central Bank for Cooperatives, proposed by Department of
Agriculture, report to Bureau.of the Budget




1/8

71

4/23

874

5/18

1124

1/24

180

2/20

410

5/16

1099

3/16

609

3/9

550

5/14

1050

6/12

1320

10/2

2034

10/25

2157

7/26

1634

7/19

1589

336
Pages
IlePorts on bills: (continued)
S. 341, to amend Commodity Exchange Act, no objection to
enactment, report to Bureau of the
Budget
S. 349, housing in connection with national defense, report to Senate Banking and Currency
Committee
S. 349, Defense Housing and Community Facilities and Services Act of 1951, report to Bureau of the
Budget
S. 515, to reorganize RFC, no report to be submitted until
after Senate vote on President's reorganization plan
To amend RFC Act, report sent to Bureau of the Budget
To amend RFC Act, report to Chairman Maybank of Senate
Banking and Currency Committee
.
S 533, to create Small Defense Plants Corporation and to
preserve small business institutions and
free competitive enterprise, report sent
to Bureau of the Budget
S. 614, to amend Bankhead-Jones Farm Tenant Act, report sent
to Bureau of the Budget
S. 684 to amend Bankhead-Jones Farm Tenant Act re mortgage
loans, report to Bureau of the Budget
S. 4.0
to amend Bankhead-Jones Farm Tenant Act re mortgage
loans, report to Bureau of the Budget
S. 833, to coordinate small business activities of Government, report sent to Bureau of the Budget
S. 994 to amend section 21 of Bankhead-Jones Farm Tenant
Act, similar to section 3 of S. 684, report
to Bureau of the Budget
S. 998 to amend Assignment of Claims Act of 1940, and for
other purposes, enactment favored, advice
to Bureau of the Budget
S. 1139, Hoover Commission recommendations re regulatory
agencies of Government, report sent to
Bureau of the Budget
S. 1139 to change laws applicable to regulatory agencies
of Government, report sent to Senator
McClellan and Representative Dawson
S. 1150, to provide for reorganization of Treasury Department, report sent to Bureau of the Budget
S. 1150 to provide for reorganization of Treasury, report
sent to Senator McClellan
S. 1647, guarantee of loans by FRBanks to business enterprises, enactment not favored at present,
advice to Senator Maybank
S. 1717 to amend and extend Defense Production Act of 1950
and Housing and Rent Act of 1947, report
to Bureau of the Budget
S. 1883, to establish Missouri Valley Authority, report to
Senate Committee on Public Works sent to
Bureau of the Budget



3/15

601

2/20

409

8/23

1802

4/12
4/23

790
875

5/18

1123

4/12

790

3/26

673

6/6

1261

8/17

1768

4/12

790

6/6

1261

5/3

974

4/18

853

4/30

917

4/23

875

4/30

915

6 18
/

1357

7/30

1642

8/28

1837

337
Pages
RePorts on bills: (continued)
S. 2006, to increase lending authority of Export-Import
Bank of Washington, approval recommended
9/28
to Bureau of the Budget
S. J. Res. 78, to make restrictions of FRAct on holding
office in member bank inapplicable to
M. S. Szymczak when he leaves Board, re8/7
port to Bureau of the Budget
War damage, draft of legislation to provide compensation
5/23
for, report to Bureau of the Budget
ksearch activities of Board and FRBanks, discussion in connec12/18
tion with 1952 budget
Ilesearch function of FRBanks, discussion of coordination with
work at Board and uniformity of statements
12/7
at Banks
Res
erve and central reserve cities:
Cedar Rapids, Iowa, designation as reserve city to be con2/19
tinued
Classification, statement to be published in March issue of
3/15
FRBulletin
2/19
Columbus, Ohio, designation as reserve city continued
Des Moines, Iowa, designation as reserve city to be con2/19
tinued
Designations, continuance of all except three approved,
2/19
advice to FRBanks
2/19
Dubuque, Iowa, designation as reserve city to be continued
Fort Worth, Texas, designation as reserve city to be con2/19
tinued
Galveston, Texas, designation as reserve city to be termin2/19
ated
Indianapolis, Indiana, designation as reserve city to be
2/19
continued
Kansas City, Kansas, designation as reserve city to be
2/19
continued
Lincoln, Nebraska, designation as reserve city to be con2/19
tinued
city to be
Milwaukee, Wisconsin, designation as reserve
2/19
continued
National City (National Stock Yards), Illinois, designation
2/19
as reserve city to be continued
reserve requirements to
New York and Chicago, increase in
maximum allowed discussed and to be con4/10
sidered again on April 17
reserve city to be terminPeoria, Illinois, designation as
2/19
ated
reserve city to be continPueblo, Colorado, designation as
/9
21
ued
as reserve city to be
St. Joseph, Missouri, designation
2/19
continued
St. Paul, Minnesota, designation as reserve city to be con2/19
tinued




2028

1700
1173
2437

2380

373
603
372
372
371
373
372
373
372
373
373
372
372

765
373
373
373
372

338
Pages
Reserve and central reserve cities:
Sioux City, Iowa, designation as reserve city to be continued
Toledo, Ohio, designation as reserve city to be continued
Topeka, Kansas, designation as reserve city to be continued
Oklahoma, designation as reserve city to be continued
Waco, Texas, designation as reserve city to be terminated
Washington, D. C., and every city except New York and
Chicago with FRBank or Branch, continuation as reserve cities
t Wichita, Kansas, designation as reserve city to be continued
"serve Board Club:
Donation of Board to be increased to and use of telephone
not to be charged to
15
Picnic, Board to contribute $125 for
Aeserves
:
Availability of, responsibility of FRSystem to regulate,
statement of Mr. Szymczak at FAC meeting
Cash collateral accounts (S-1376), statement to be published
in FRBulletin
Citizens National Bank of Alexandria, Va., penalty for
deficiency waived
Contingencies, adequacy of, question to be placed on agenda
for Presidents Conference
Adequacy of, discussion at Presidents Conference of
transfer of reserves to surplus
Increase, advice to FRBanks re discussion at Presidents
Conference
Excess position of member banks, discussion of
FR}3ank of Atlanta, increase in allowance for estimated
losses against industrial loans to Polk
Milk Company approved
First National Bank of Britton, Britton Station, Oklahoma
City, Okla., granted permission to carry
same reserves as banks outside central
reserve and reserve cities
First National Bank of Frankford, Delaware, penalty for
deficiency waived
First National Bank, Sparta, Illinois, penalty for deficiency waived
H.R. 160 to amend section 5192 of Revised Statutes re reserves of national banks in territories
and possessions of U. S., report sent to
Bureau of the Budget
H.R. 160, to amend section 5192 of Revised Statutes re reserves of certain national banks, no objection to enactment, report to House Banking
and Currency Committee
Iaterboro Bank and Trust Company, Prospect Park, Pa.,
penalty for deficiency waived
National Bank of Commerce, Chicago, Ill., penalty for deficiency waived




2/19
2/19
2/19
2/19
2/19

373
373
373
372
373

2/19
2/19

372
372

10/25
6/1

2156
1232

2/20

394

9/6

1880

12/17

2433

4/30

927

5/18

1133

6/13
12/27

1325
2492

11/21

2294

1/19

153

9/28

2027

/7
82

1823

1/24

180

/0
22

410

3/16

606

2/14

340

339
Re
serves: (continued)
National Bank and Trust Company, Chariton, Iowa, penalty
1/19
for deficiency waived
National State Bank, Newark, N. J., penalty for deficiency
3/6
waived
Regulation D Supplement, revision re requirements, state1/16
ment to be published in FRBulletin
Requirements:
Authority to increase, no request to be made for inclu1/9
sion in omnibus bill
1/16
Increase, effects of, report of Mr. Thomas
Increase, question of legislation to authorize in order
to restrain credit, Mr. Powell to investi1 3
/0
gate kind of study to be made
State commercial banks and trust companies as of February 1, 1951, verification of data and
information re changes in regulations re2/20
quested of FRBanks
Supplementary, memo of Mr. Young re loan expansion
reserve plan, matter to be considered at
2/27
next meeting
Increase in authority over primary reserves, special
reserve plan, ceiling reserve plan, and
loan expansion reserve plan, discussion
of memo and draft of legislation, further
memo re loan expansion plan to be prepared
3/5
Loan expansion reserve plan, discussion of draft of
bill supplementary memo to be prepared
3/5
Increased authority over, loan expansion reserve plan,
memo from Mr. Powell on, question of
needs for expanding communities and
exemption for banks with large portion of
deposits made up of savings accounts,
3/6
matter to be considered further
At central reserve cities, increase to maximum, no
3/8
action to be taken at present
reserve plan, memoranda re discussed,
Loan expansion
revised draft of legislation to be prepared, and plan to be referred back to
Board after task force report sent to
3/8
Mr. Wilson's committee
Supplemental, action re legislation to be deferred
until task force reports considered by
3/8
Mr. Wilson's committee
Loan expansion reserve plan, discussion at Presidents
Conference, memoranda re to be sent to
FRBanks
3/9
Central reserve cities, increase of 2 percentage points,
matter to be considered after completion
3/15
of Treasury conversion offering




Pages

151
500
136

81
124

215

407

457

487
487

493
522

523

524

563

591

340
Pages
Reserves: (continued)
Requirements: (continued)
Legislation to increase, report of task force subcommittee to be submitted, discussion of loan
expansion plan and plan for increase in
primary reserves, statement of Mr. Young
on
Loan expansion reserve plan and primary reserve plan
discussed in task force committee report,
matter to be studied further and to be
discussed with Mr. Martin before submission to Wilson committee
Supplementary, draft of second report by task force
prepared by Mr. Young, to be presented to
committee for discussion
Alternative plans for supplementary, meeting of representative Reserve Bank economists to be
arranged for discussion
Central reserve cities, increase to maximum, discussion,
matter placed on docket for meeting on
April 10
Supplemental, alternative plans, second report of task
force and views of economists discussed,
Mr. Martin to take matter up with Wilson
committee and report back to Board
Chicago and New York banks, increase to maximum, question to be discussed further
Legislation proposed by Mr. Powell
Legislation for additional authority, views of Director
of Office of Defense Mobilization to be
stated by Mr. Martin
Increase at central reserve city banks, to be considered
further after decisions on general legislative program reached by Committee of Four
Increased authority, amendment to Defense Production Act
not to contain reference to, statement of
Chairman Martin
Loan expansion plan to be discussed further, Congress
not to consider any proposed legislation
reaching it after May 7, 1951
Legislation, type and procedure for submission to
Congress discussed, but no conclusion
reached
Legislation re authority, alternative plan, views of
FAC on loan expansion reserve plan requested, topic for discussion at FAC
meeting
Statement to be made by Chairman Martin at hearings on
Defense Production Act of 1950, discussion
Loan expansion reserve and alternate plans, statement
re views of Board to be made by Chairman
Martin at meeting of Committee of Four




3/15

594

3/20

618

3/27

681

3/27

682

4/3

716

4/3

716

4/10
4/12

765
793

4/12

796

4/24

879

4/26

894

5/1

947

5/3

967

/
5 3

970

5/8

990

5/8

990

341
Pages
lerves: (continued)
Requirements: (continued)
Increase, FAC not in favor of, discussion at meeting
with Board
Proposed loan expansion reserve plan not approved by
FAC, discussion of additional authority
over, comments of FAC members requested by
Board
Legislation, provision in bill on capital requirements
for membership, discussion at Presidents
Conference
Legislation, draft of loan expansion reserve plan given
to Presidents, discussion at Conference of
need for additional authority
Supplementary, revised draft of loan expansion reserve
bill discussed, staff to prepare alternative draft incorporating suggestions for
further consideration
Drafts of two bills for supplemental authority, discussion to be continued at meeting on
May 28, telegram to be sent to FRBanks requesting comments
Legislation re additional authority, action to be
deferred, drafts of bills to be studied
further
Legislation re, further discussions to be postponed
Cash collateral accounts held by member banks against
outstanding commercial letters of credit,
considered deposits for purposes of
Decrease to provide additional reserves, discussion at
FAC meeting
Changes in law, comments of FRBanks requested for report on legislative proposals for 1952
Changes not favored by FAC at present
Legislation re, advice to Bureau of the Budget
Central reserve city banks, increase, discussion of
probable effects of, and statement of
Mr. Vardaman
State Savings Bank, Lowell, Michigan, penalty for deficiency in reserves waived
Steel City National Bank of Chicago, Ill., granted permission to maintain same reserves as banks
in reserve cities
Union National Bank and Trust Company of Huntingdon, Penna.,
penalty for deficiency waived
esi
nations:
Alter, Gerald m., economist in Division of International
Finance
Ashford, Barbara, clerk in Division of Personnel Administration
Seer, Mrs. Elizabeth M., nee Elizabeth J. McGuire, stenographer in Division of Administrative
Services



5/15

1054

5/15

1065

5/18

1128

5/18

1136

5/22

1152

5/23

1163

5/28
6/12

1195
1298

8/6

1687

9/18

1948

11/2
11/20
12/4

2203
2274
2353

12/27

2492

12/19

2455

11/28

2315

9/24

1987

3/23

654

2/14

339

9/12

1924

342
Pages
11"ignations: (continued)
Benjamin, Georgiana, clerk-typist in Division of Selective
Credit Regulation
Bevan, Elsie M., clerk-stenographer in Division of Research
and Statistics
Booth, Mrs. Gertrude E., stenographer in Division of Administrative Services
Brown, Mrs. Jeannette L., stenographer in Division of Administrative Services
Brown, Willis G., FRExaminer
Browning, Frank M., as director at Salt Lake City Branch
when engaged in commercial banking
Burns, Irene, clerk-typist in Division of Examinations
Cassidy, Alton W., assistant gardener
Collison, Mrs. Dessie A., page
Conrad, Alfred H., economist in Division of Research and
Statistics
Corkhum, William R., Asst. FRExaminer, accepted
Cunningham, Geraldine A., clerk-typist in Division of Bank
Operations
DeMoss, H. R., Vice President of FRBank of Dallas
Denecke, W. A., director at Helena Branch, resignation
accepted
Dixon, Rita M., stenographer in Counsel's Office
Donohoe, Mrs. Mary M., clerk-typist in Division of Research
and Statistics
Dons, Fred A., FRExaminer
Duarte, Mrs. Genevieve G., clerk in Division of Research and
Statistics
Dunn, Leroy, Research Assistant, in Division of Research and
Statistics
Eccles, M. S., to be submitted
Egbert, Va Lois, secretary to Mr. Eccles
Fort, Donald, economist in Division of Research and Statistics
Fowler, Mrs. Gretchen H., Research Assistant in Division of
International Finance
GelDY, Theresa, cafeteria helper
Gillis, Harry A., Jr., economist
Godard, Alice C., clerk-stenographer in Secretary's Office
Frank H., economist
Gough,
'ough, Mrs. Margaret C., clerk-stenographer. in Division of
Bank Operations
Gratsias, Zoe, stenographer in Division of Examinations
Gllggs, Mrs. Betty H., clerk-stenographer in Division of
Research and Statistics
Hall, Walter S., Asst. FRExaminer
Harris, Martha J., stenographer, Division of Administrative
Services
Hartmann, Gail M., research assistant
Henn, Margaret J., page




6/22

1399

9/13

1928

6/5

1250

9/12
11/27

1924
2310

12/18
11/15
12/17
8/23

2446
2260
2431
1804

11/1
2/12

2195
322

8/30
9/28

1844
2026

1/2
3/16

11
604

5/29
9/18

1209
1962

4/26

896

5/29
6/19
12/14

1208
1372
2424

11/1

9
4
/
12 4
10/3
5/9
12/21

iiii

2/28
9/7

463
1883

9/20
62
/9

1978
1460

10/12
7/25
8/23

2092
1619
1804

1001
2483

343
Pages
Ilesignations: (continued)
Henson, Mrs. Myrtle, cafeteria helper
Hug) Adele, secretary to Mr. Benner in Division of Selective
Credit Regulation
Rescinded
Johnson, Elsie N., clerk-typist in Division of Research and
Statistics
Johnson, Herbert A., Personnel Officer in Division of
Personnel Administration
Kellison, J. Bruce, law clerk
Kushner, Howard W., telegraph operator
Langum, John K., Vice President at FRBank of Chicago, accepted and severance allowance approved
Larson, Mrs. Hazel L., file clerk
Latham, Joyce E., clerk in Division of Research and Statistics
Latimer, Mrs. Ann M., clerk-stenographer in Division of
Personnel Administration
LaTorre, Vincent T., operator, Tab. Equipment
Lindholm, Richard W., economist in Division of Research and
Statistics
Love, James, laborer
Resignation rescinded
Mahoney, Elaine, stenographer
Malia, Anne, secretary in Division of International Finance
Mario'', Marilyn, clerk in Division of International Finance
McCarthy, Constance F., clerk in Division of Administrative
Services
McIntosh, Mary Louise, file clerk
Merritt, Mrs. Audrey R., draftsman in Division of Research
ard Statistics
Milford, W. R., Vice President at Baltimore Branch
Morgan, Mrs. Peggy W., clerk-stenographer in Division of
Administrative Services
Moye, Lois M., clerk-stenographer in Division of Selective
Credit Regulation
MYere, Edwina Y., Stenographer in Divisicn of Administrative
Services
°ffutt, Mary G., clerk in Division of Research and Statistics
Parker, Harrison, economist in Division of International
Finance
Payne, Della, cafeteria helper
Perez, Anita C., clerk-stenographer in Division of International Finance
?laugher) Betty Jean, stenographer in Division of Selective
Credit Regulation
rescinded
Action
Preble, Mildred L., Asst. Supervisor of Cafeteria, accepted
Rachford, Philip C., Asst. FRExaminer
tdicevic, Katherine, clerk in Division of Research and
Rl
Statistics




9/18

1962

9/11
9/13

1916
1929

8/20

1777

5/9
4/4
7/31

1001
724
1659

2/2
5/2

237
952

3/23

654

9/18
4/30

1961
911

5/29
12/4
12/19
8/14
6/18
5/7

1208
2361
2452
1748
1356
984

6 19
/
10/18

1374
2131

2/1

230

6/26

1422

3/14

582

8/20

1777

9/12

1924

10/10

2083

7/13
1/8

1545
69

10/3

2041

6/11
61
/9
11/14
11/15

1275
1374
2245
2260

6/26

1427

344
Pages
Resignations: (continued)
Robinson, Katherine, page
Rockey, Mrs. Anna F., clerk-typist in Division of Examinations
Rollins, Ars. Patricia A., page
Ronnenburg, T. L., Asst. FRExaminer, resignation
Saunders, Mrs. Laura Gilman, economist in Division of Research and Statistics
Schuhle, Mrs. Marianne, leave clerk
Smith, Carolyn G., clerk-typist in Division of Bank Operations
Smith, J. Calvin, Asst. FRExaminer
Snider, Merrill Wayne, key punch operator
Stakes, Mrs. Christine B., stenographer in Counsel's Office
Stanley, Mrs. Pauline E., clerk in Division of Administrative Services
Stiehler, Mrs. Grace L., statistical clerk in Division of
Bank Operations
Sylvester, Orlena Ruth, clerk in Division of Research and
Statistics
Temple, Joan A., clerk-typist in Solicitor's Office
Thompson, Janet, page
Truitt, June A., clerk-stenographer in Division of Research
and Statistics
Turner, Mrs. Jane, stenographer in Division of Administrative Services
Turner, Thomas R., laborer
Underwood, Willis H., Jr., analyst in Division of Bank
Operations
Van Wagner, Elizabeth E., file clerk
Velebir, Mrs. Frances A., records clerk
Vidal, Claudia, clerk-stenographer in Division of Selective Credit Regulation
Vigeant, Diane K., stenographer in Counsel's Office
Vogenitz, Mrs. Betty Jane, clerk-typist in Division of Bank
Operations
Walsh, Kathryn A., clerk-typist in Division of Research and
Statistics
Watt, Mrs. Alice King, Asst. Supervisor, Stenographic Section, Division of Administrative Services
Wernick, Murray S., economist
Whitaker, Mrs. Ella D., file clerk
Williams, Mrs. Alice R., clerk in Division of Research and
Statistics
Winkler, Mrs. Ann, stenographer in Division of Administrative Services
4esn,
--Lutions
:
Assessment of FRBanks, for expenses of Board:
For last half of 1951
For first half of 1952
ChrYsler-DeSoto-Dodge-Plymouth Dealers Assn., Inc., on relaxation of terms of Regulation W




9/5

1864

9/5
10/5
12/27

1864
2070
2500

2/12
12/14

322
2424

8 3
/0
12/27
12/14
2/26

1844
2500
2424
437

4/13

804

4/19

859

8/31
11/21
5/10

1848
2293
1014

6/5

1250

6 2
/7
3/14

1437
582

11/15
10/18
4/19

2259
2131
858

2/14
8/20

338
1777

61
/9

1374

9/13

1928

10/11
10/4
4/26

2089
2064
896

6 26
/

1427

4/4

723

6 25
/
12/26

1417
2490

10/23

2149

345
Pages
Ilesolutions: (continued)
Commission on Small Business for California, recommendation
that FRBanks be authorized to approve
6/11
Regulation V loans
PRBank of Dallas, directors' views on salaries of President
6/21
and First Vice President
Independent Bankers Association:
Amendment to FRAct re election of members of FAC and
terms of office, copies to be sent to Chairmen and Presidents of FRBanks and comments
requested
5/31
Amendment to FRAct re election and rotation of FAC members recommended, comments of Directors of
6/11
FRBanks requested
introduced in House, to investigate RegulaTackett, Boyd,
7/12
tion W enforcement practices
Retail credit, survey to cover 1951, memorandum of Mr. Young
11/15
placed on docket for next meeting
a .Plans approved
12/4
"arement system:
Active service death benefits:
Study by Towers, Perrin, Forster & Crosby, Inc.,
1/3
authorized
Study by Towers firm, letter in reply to comments of
2/9
Mr. Sproul
Increase to be provided through group life insurance,
discussion, matter to be considered further
after determination of costs and views of
Chairmen, Presidents and Board of Trustees
ascertained
5/3
Provision through group life insurance approved, committee to negotiate contract after approval
7/17
by FRBanks
Continuance of group life insurance policies after
effective date of non-contributory group,
10/4
discussion at Presidents Conference
Amendments to Rules and Regulations approved, advice to
5/28
Mrs. Frank
Benner, Henry, election of Board Plan, requirement for
filing notice within 30 days after joining
6/12
staff waived
Board members:
Membership in Bank Plan rather than in Civil Service
Retirement System, Personnel Committee to
1/11
study matter and make recommendation
Retirement Act to permit
Amendment to Civil Service
membership in FRBank plan, Messrs.
/
1 25
Carpenter and Hilkert to study matter
held during week of May 14,
Board of Trustees, meeting to be
4/10
1951




1284
1387

1215

1280
1536
2258
2348

23
313

958

1558
2057
1205
1314

101
186
756

346
Pages

)
b
Retirement system: (continued)
Disability retirements:
Supplemental payments to increase death benefits,
cancellation in light of new group life
insurance policy, advice to FRBanks
Wilkes, M. R., FRExaminer, noted
Group life insurance for FRSystem:
Copy of proposed contract and application to be executed by FRBank of Chicago sent to FRBanks
and Secretary of Retirement System
Amended contract with Connecticut General Life Insurance Company approved and FRBank of Chicago
authorized to execute application
Contract, name of firm of Towers, Perrin, Forster and
Crosby not to be mentioned in explanatory
pamphlet
Interest rate of three per cent on instalment and deferred
death payments, resolution noted
Interest rate on funds withdrawn from, change discussed,
matter to be deferred until return of Mr.
Vardaman and discussion of investment
procedure
Investment procedure:
Policy re, discussion by Mr. Vardaman, matter in hands
of Personnel Committee for further study
Personnel Committee to make recommendation when study
completed
Personnel Committee to present recommendations before
May 16
Study in hands of Personnel Committee, statement of Mr.
Norton in response to inquiry of Mr.
Vardaman
To be discussed upon return of Mr. Vardaman, to include
question of change in interest rate on
funds withdrawn from
Membership:
Mundt, Grace C. L., Detroit Branch employee, inactive
membership approved until date of reemployment
Wisniewski, Margaret T., Detroit Branch employee, inactive membership approved until date of
re-employment
Payments:
Erickson, Joseph A., FRBank of Boston, agreement covering special payments, approved subject to
ruling from Bureau of Internal Revenue
Special agreement, execution directed by Board,
advice to Chairman Hodgkinson
Heath, E. A., FRBank of Chicago to be reimbursed for,
during loan to Board
Hilkert, Robert N., FRBank of Philadelphia' to be reimbursed for, during loan to Board




11/16
4/19

2268
858

10/26

2175

11/1

2193

12/4

2359

5/28

1205

10/26

2172

2/1

229

3/9

533

4/10

756

7/17

1562

10/26

2172

10/30

2187

10/30

2187

1/3

19

6 12
/

1308

1/22

156

/
1 22

156

347

1400
4
tarement system: (continued)
Payments: (continued)
McLarin, W. S., Jr., FRBank of Atlanta, payment of
contribution to be authorized if approved
by directors, advice to Mr. Neely
Payment to provide full pension benefits approved
Peyton, John, President of FRBank of Minneapolis,
special agreement, execution directed,
advice to Chairman Shepard
Phelan, Arthur, FRBank of New York to be reimbursed for,
during loan to Board
Reimbursement of FRBanks for services of personnel to
include contributions to social security
fund
Roche, Thomas J., FRBank of New York, contribution
approved to permit reinstatement without
loss of service upon return from leave of
absence while serving with International
Monetary Fund
Wayne, Edward A., FRBank of Richmond to be reimbursed
for, during loan to Board
Williams, Alfred H., President of FRBank of Philadelphia, agreement covering special payments approved, subject to ruling from
Bureau of Internal Revenue
Special agreement, execution directed, advice to
Chairman Whittier
Phillips, John, Jr., Vice President at FRBank of Kansas
City, to reach age 65 during 1951
Pipkin, G. H., Vice President at Denver Branch, to reach
age 65 during 1951
Retentions in service:
Blanchard, John P., Assistant Manager of Portland
Branch, salary approved
Childers, Clay, Asst. Manager at Little Rock Branch,
salary approved during retention of
services
Hult, Ellis G., Vice President at FRBank of Boston,
salary approved
Meyer, Leon C., Asst. Manager of Los Angeles Branch,
salary approved
Phillips, John, Jr., Vice President at FRBank of Kansas
City, salary approved
Pipkin, George H., Vice President at Denver Branch,
salary approved
Russell, Bertram A., Asst. Manager of Seattle Branch,
salary approved
Retirements:
Baker, Ellery W., correspondence clerk, application
noted
Dyer, Sara A., clerk-stenographer, application noted




Pages

1/11 101,105
2/23
432

6 12
/

1308

1/22

156

1/22

156

11/21

2294

1/22

156

3/19

614

6/12

1308

2/9

312

2/9

312

8/24

1818

10/25

2156

10/25

2157

3/23

655

3/29

705

3/29

705

8/24

1818

12/21
3/19

2483
613

348
Pages
Retirement system: (continued)
Retirements: (continued)
6/22
Ficks, Louis G., secretary, application submitted
12/12
Hodson, Mrs. Viola A., clerk, application noted
Vincent, Helen M., clerk in Division of Research and
1/24
Statistics, application noted
Walden, John S., Jr., First Vice President at Richmond,
2/16
to retire in April 1953
Rev
ised Statutes:
Section 5136, draft of bill to amend re securities issued
by Central Bank for Cooperatives, proposed
by Department of Agriculture, report to
7/19
Bureau of the Budget
Section 5155, bill to amend, draft of letter to Banking and
Currency Committees sent to Bureau of the
6/12
Budget
Section 5155/ proposed bill to amend re capital requirements for membership in FRSystem and for
establishment of out-of-town branches,
12/12
modified bill sent to FDIC for comments
agreement, advice
Section 5200, form of V-loan guarantee
to FRBanks re compliance with Exception
10 of
4/9
ReYnolds, V. 1W., of A. Reynolds Television Company, Regulation
4/11
WI application to
Richardson, Paul Y., Regulation WI effect on television and
5/2
appliance sales
" John J., Regulation W, telegram from Mr. Allen, Mgr.,
R eY,
6/22
Boyle Motor Company, of Sumter, S. C.
Roberts Motor Company, Regulation W violations, disciplinary
conference to be held in lieu of other
6/13
action
Robe
rtson, A. Willis:
Assignment of Claims Act of 1940 amendment proposed to,
2/20
reply to letter
Amendment to, urgent need for legislation to be dis2/27
cussed by Chairman McCabe with
Margin requirements, reply to letter from Mr. Howard S.
2/16
Keep
Regulation W, meeting of group of automobile dealers from
Virginia, statement of Mr. Evans re need
2/21
for tightening of terms
Regulation W, graduated maturity schedule proposed by
Virginia Automobile Dealers Association,
3/9
not favored at present, advice to
Amendments to FRAct to provide financial aid to small busi5/21
ness in normal times, suggestions sent to
6/6
Small business assistance, draft of bill re sent to
S. 1647, to amend Section 13b of FRAct re loans for small
business, letter sent to
7/3




1400
2397
180
357

1589

1315

2403

748
780
953
1407

1328

409
445
361

415

552
1141
1260
1480

349
Pages
ilobsrtson, Walter S., unable to accept appointment as member of
Voluntary Credit Restraint Committee
'in80n, H. W., Regulation WI effects on sales of automobiles
41
to persons of moderate income
acknson,
Roland I., employment by FRBank of Chicago to make
study re effect of taxes on bank earnings
approved
110A.
-Inc), Peter W., Jr.:
Merger of Bank of Nutley and First National Bank of Nutley,
New Jersey, letter from Mr. Ciardi
Service charges of Bank of Nutley, New Jersey, reply to
letter from Mr. Ciardi
Roo.
er5, Max., Regulation W, question of Wholesale financing
level, reply to letter
ItOnp,
-142 N. I., Regulation W, reply to letter re application to
110sale of repossessed automobile
Ben, Milton, Regulation W, application to garbage incinerators, advice re
Rethenberg, Martin E., Regulation X, section 5(1), applicability
to contract to sell where vendee rents
house prior to purchase
1()thschmitt, Frank J., Regulation W, automobile leasing arrangements, meeting at Board re suggested
amendment to regulation, advice to Mr.
atu.Cotter
es of Organization and Procedure of Board, amendments re
subpoenas and witness fees approved
es of Procedure, Board of Governors:
Oral argument, request for, granting not required under,
discussion in connection with H. Bartels,
Inc., violations of Regulation W
}tla
'ela, Richard B., Regulation W, effects on sales of automobiles to persons of moderate income,
reply to comments of Mr. H. W. Robinson
"S"
S. ,.
" Toof and Company, Memphis, Tenn., Regulation WI Statement of Borrower form printed by
•
IcesPing of securities:
'
FRBank of Cleveland, practice of safekeeping securities not
owned by member banks to be discontinued
FRBank of Kansas City, further information requested re
holding for local member banks
Policy reaffirmed at Presidents' Conference, advice to
FRBanks
San Antonio Branch, practice of accepting securities from
local member banks for, further advice
requested
Safes.
Purchase of additional safe for storage of minutes of Board
and FOMC approved




3/13

578

/
64

1236

12/6

2375

6/13

1326

8/27

1823

3/22

647

1/12

115

11/1

2197

2/2

244

10/16

2117

6 28
/

1453

11/13

2234

6/4

1236

6/11

1287

1/18

142

9/19

1966

5/2

956

5/4

977

1/25

199

350
Pages
Safeway Stores:
Regulation X, applicability to heating, cooling, and ventilation equipment, telegram to FRBank of
San Francisco approved after discussion of
difference of opinion
St. Louis County, Regulation X, question of exemption under
section 5(g) in connection with construetion of retail center
s
alaries:
Board of Governors, employees, general pay increase approved
to conform with S. 622, after discussion of
legality of retroactive provision
Buffalo Branch, employees, increase in salary structure
approved
Chauffeurs, question of increase referred to Personnel Committee
Chauffeurs at Board, increase suggested by Mr. Vardaman,
matter to be reconsidered after return of
Mr. Evans from Europe
Denver Branch, employees, increase in salary structure
approved
El Paso Branch, employees, salary structure increase approved
Erickson, Joseph A., President of FRBank of Boston, salary
approved for temporary period as increase
to be requested, but Board policy re
maximum salary not to be changed at present
FRBank of Atlanta:
Junior officers, approved
Officers, increases to be considered at regular time
because of Government ruling
Officers, approved
FRBank of Boston:
Neal, Alfred C., First Vice President, salary approved
Officers, approved
FRBank of Chicago:
Junior officers, approved
Officers, review to be made at regular time because of
General Regulation No. 5 of Wage Stabilization Board
Officers, delay in review, advice to Mr. Young
Officers, approved
PRBank of Cleveland:
Employees, increase in structure approved
Officers, approved
Officers, increases to be considered at regular time for
review in accordance with General Regulation No. 5 by Wage Stabilization Board
Officers, approved
Officers, approved
Payment of salaries below minimum of grade approved
reluctantly




9/27

2014

8/7

1705

10/26

2161

12/12

2399

8/28

1839

11/13

2223

12/12

2401

12/12

2402

6/21

1386

2/23

431

2/23
5/1

431

6/21
4/10

1386
760

2/20

406

2/20
3/29
4/10

406
705
763

8/28
1/23

1837
172

2/12
4/17
9/4

323
831
1857

6/6

1257

945

351
Pages
Salaries: (continued)
FRBank of Dallas:
Employees, increase in salary structure approved
Officers, approved
Officers, to be approved if submitted formally
Officers, approved
Resolution on salaries of President and First Vice
President, no change to be made in present
policy
FRBank of Kansas City:
Employees, salaries below minimums approved for several
Employees, increase in salary structure approved
Officers, approved
Senior officers, adjustments cannot be made at present
because of salary stabilization orders
Officers, approved
FRBank of Minneapolis:
Officers, approved
Officers, approved
FRBank of New York:
Employees, increase in salary structure approved
Officers, views of directors and information to be
studied
Officers, approved
Officers, increases not to be considered at present
because of salary stabilization orders
Officers, delay in review, advice to Mr. Sproul
Officers, approved
Officers, no change in decision re Presidents and First
Vice Presidents and salaries of Messrs.
Knoke, Logan, and Rouse
FRBank of Philadelphia:
Employees, increase in salary structure approved
Officers, proposed increases, action deferred pending
clarification of Government order
Officers, approved
FRB„k of Richmond:
Employees, increase in salary structure approved
Officers, to be approved when formally submitted
Officers, approved
FRBank of St. Louis:
Officers, approved
Officers, to be approved when formally submitted
Officers, approved
FRBank of San Francisco:
Employees, increases in salary structures to be deferred
because of recent action of Government
Junior officers, approved
Senior officers, to be reviewed only at regular time
Officers, approved




12/12
1/3
5/15
5/29

2402
20
1082
1210

/1
62

1387

1/3
12/12
1/3

20
2401
19

2/23
6 12
/

432
1309

2/13
5/1

334
946

12/12

2399

1/5
1/25

63
194

2/26
3/29
4/10

438
705
761

6/21

1387

12/12

2400

2/13
4/17

334
831

11/15
5/1
5/15

2260
945
1085

1/25
5/1
5/15

194
945
1087

2/12
2/21
2/21
4/17

323
424
424
833

352
Pages
Salaries: (continued)
FRBank of San Francisco: (continued)
No change to be made in policy for Presidents and First
Vice Presidents, increases for Messrs.
Earhart, Mangels, and Volberg not approved
FRBanks:
Officers, procedure for consideration, exception to be
made at present for officers other than
President and First Vice Presidents,
FRBanks to be advised
general review of question to be made at
Officers,
special Board meeting in future
Presidents and First Vice Presidents, increases, question to await clarification of general
wage stabilization regulation
FRBranch managers, procedure for appointments not to be
changed at present, but plan for Board and
FRBanks to be submitted later
Houston Branch, employees, salary structure increase
approved
Lower grades, increase, Personnel Committee to make recommendation after completion of study
Oklahoma City Branch, employees, increase in salary structure approved
Omaha Branch, employees, increase in salary structure
approved
Presidents and First Vice Presidents of FRBanks, policy
not to be changed at present, advice to
FRBanks of Dallas, New York, and San
Francisco
Staff of Board:
Chauffeurs, increase, Personnel Committee to make recommendation after completion of study
Longevity increases, amendment to rules to provide for
crediting of any excess service toward
next step increase approved
Official, increases approved
Procedure for appointments and salary increases
approved
Reclassification to higher grade, procedure for immediate salary adjustment approved
Sloan, George S., increase recommended by Mr. Vardaman,
but not approved at present
ski
ErY Stabilization Board:
Group life insurance plan for officers and employees of
FRSystem, request that jurisdiction of
matter be relinquished to Wage Stabilization Board
41tonstall, Leverett, letter from Mr. Wentworth on effects of
Regulation W on sales of automobiles to
workingmen who require cars to reach places
of employment




6/21

1388

1/25

189

4/10

760

1/30

216

8/21

1786

12/12

2402

12/20

2473

12/12

2401

12/12

2401

6/21

1387

12/20

2473

5/16
12/20

1101
2469

6/12

1302

3/13

577

12/20

2471

10/15

2099

6/5

1256

Sala
, Diego, California, designation as defense area
'anclers, J. M., Vice President, Hill & Tibbitts, Inc., Regulation W I request for exemption of foreign
made cars
George H., Regulation WI home improvements and repairs, request for relief
kalnier, P.
J.:
Advances and commitments under Section 13b of FRAct, data
for confidential use to be sent to
Industrial advances and commitments under Section 13b of
FRAct, data released for study of
Se.
vannah River, South Carolina:
Defense area designation and schedule of terms approved
se Authorization for construction of additional units
haPiro, Morris A., statement "How Commercial Banks Are
Affected by Federal Taxation", discussion
at Presidents Conference
Selle-1, S. D., Regulation W, reply to inquiries from Canfield,
Schell, Hannan & Castiello, Washington,
D. C., re interpretations
Seheuer, S. H.:
Margin requirements, amendment to regulations re, advice to
Margin requirements, reply to suggestion re amount on short
sales
$
4 1rtidt, E. D., Regulation W, enforcement activities, letter to
Senator Ives re
Schofield,
G. L., Regulation W, proposed plan for leasing gasfired water heaters by Washington Gas and
Electric Company of Tacoma, Washington,
advice to
Schommer, L. N., letter to Senator Wiley on lack of bank credit
available for small businesses
°ggins, J. M., Regulation W, request for investigation of
4
Arkansas Home Building and Repairing Company, Little Rock, Ark., advice to
Congressman Gathings
Errett P., Regulation W, transportation problem for
defense workers
and other States, Regulations W and X,
Floods in Kansas
advice re designation of disaster areas
by FRBanks of Kansas City and St. Louis
:
Searte, Roebuck & Company
WI application to free gift plan, advice to
Regulation
FRBank of Dallas
4ehler, F. E. Regulation X, letter to Senator Johnson re
,
shortage of mortgage funds
4erest, James D., Regulation W, television sales, request for
relaxation of requirements not approved
Seo,
of Labor:
rederal
Federal Safety Council, designation of Messrs. Bethea and
Kelleher as representatives, advice to
Secretary Tobin




4/24

353
Pages
878

5/25

1189

4/9

750

6/11

1281

9/4

1861

2/27
5/25

449
1192

10/4

5/21

2060

1148

2/1

233

2/16

363

8/8

1708

11/15

2262

/9
62

1464

2/21

425

5/31

1222

7/26

1631

8/1

1666

/
6 13

1333

5/10

1016

1/31

226

354
Pages
Secretary of the Treasury:
Debt-management and monetary policies, agreement reached
between Board and Treasury, statement
approved by
3/2
Patman Subcommittee questionnaire, employment of consultants to assist with replies
10/15
Public debt management, views of Mr. Vardaman re support
of Board, statement recommended
1/30
Savingsbond program, payment for dinners and luncheons,
discussion of Chairman Martin with Mr.
Snyder
5/31
Seeretaryt E note:
Budgets of FRBanks for 1951, letter sent to FRBank of
Boston and similar letters to other FRBanks
stating approval and request for holding
expenditures to minimum
7/19
Consumer credit, views of Board on regulation sent to
Senator Maybank and Representative Spence
75
/
Debt-management and monetary policies, agreement with Treasury reached, statement approved by Secretary of the Treasury
3/2
Defense Housing and Community Facilities and Services Act
of 1951, signed by President
8/28
Louis Master and Morris Master, d.b.a. Master Tire and
Supply Co., Lawrence, Mass., order suspending license under Regulation W issued
on November 13, 1951
11/13
Margin requirements, increase favored by Mr. Sproul
1/16
Marine Midland Corporation application for voting permit,
approved by Mr. Powell over telephone
12/17
Meinel, William J., appointment as Class C director at
FRBank of Philadelphia for unexpired
portion of term
8/3
Paducah, KY.) and Savannah River, S. C., schedule of terms
under Regulation X approved by Messrs.
Norton and Foley
2/27
Regulation T, Amendment No. 11, advice to Mr. Gray, New
York Stock Exchange
82
/8
interpretation to be published in FRBulletin
Regulation
and Federal Register
12/28
Regulation W violations:
Public Loan Corporation, Walter L. Boynton and Herman
Bryan Hamric, d.b.a. Hamric Motor Sales,
case referred to Department of Justice
5/8
for action
Reports of four matters referred to Department of
61
/9
Justice
Regulation X, revision, approved by Administrator of Housing and Home Finance Agency
1/5
As amended effective February 15, 1951, approved by
Housing and Home Finance Administrator
2/9




475
2105
218

1218

1585
1491

475
1831

2237

126
2430
1681
452
1836
2514

994
1369
60
309

355
Pages
Secretary's note: (continued)
Regulation X: (continued)
Amendment to exempt defense construction, not approved
by Housing and Home Administrator, matter
2/21
to be considered further
Section 6, defense construction, approved
Amendment to
2/27
by Housing and Home Finance Administrator
approved by Housing and Home AdminAmendment No. 2
3/15
istrator
3/29
3 approved by Mr. Foley
Amendment No.
4/10
Amendment No. 4 approved by Mr. Foley
Amendment No. 7 approved by Housing and Home Finance
11/13
Agency
Report of task force subcommittee on credit control, submitted to Mr. Wilson with dissenting
statement of Mr. Vest re Federal Reserve
as administrative agency for procedure
3/15
S. 349, Defense Housing and Community Facilities and Services Act of 1951, report sent to Bureau
8/23
of the Budget
Statement and letter sent to President, with copy to
8/28
Bureau of the Budget
S. 1647, to amend Section 13b of FRAct re loans for small
business, letter sent to Senator Robertson,
7/3
hearings not to be held on
See
urities and Exchange Commission:
Margin requirements, increase, discussion by Chairman
1/11
McCabe with Mr. MacDonald
Teegarden, Harold B., Hearing Examiner, GS-131 requested
to direct hearing on charges of viola5/17
tions of Regulation W
Conducting hearing of H. Bartels for violation of
7/17
Regulation W
S
ecurities exchange administration:
American Gas and Electric Company, purchase of stock through
additional subscription privilege, application of section 3(p) of Regulation U,
6 11
/
advice to FRBank of New York
Honolulu Stock Exchange,
Bishop Trust Company, member of
loans to be arranged in accordance with
supplement to Regulation T, advice to
4/17
Mr. J. Russell Cades
Railway Company, application of RegulaChesapeake and Ohio
tion T to Employee's Stock Purchase Plan,
8/17
advice to Mr. Wheeler
unions, application of Regulations T and U to arrangeCredit
ment for members of credit union to purchase
registered securities of employer, similar
to case of Detroit Edison Employees' Credit
11/13
Union, advice to FRBank of Chicago




415
448
590
696
767
2240

593
1803
1829

1481

103

1106

1554

1282

839

1769

2242

356
Pages
Securities exchange administration:
(continued)
Extensions of time granted by committee of national securities exchange in exceptional circumstances,
reply to letter from Mr. John Witter
Loans secured by investment trust shares, application of
Regulation U, inquiry from Mr. Mayfield of
First National Bank at Orlando, Fla.
Long Bell Lumber Company Class A Common 1951 dividends, not
subject to section 6(g)(3) of Regulation
T, advice to FRBank of San Francisco
Los Angeles Stock Exchange, requests for extensions of time
under section 4 of Regulation T, preservation not required after two-year period,
advice to FRBank of San Francisco
Margin accounts, withdrawals from undermargined, advice to
Mr. John A. Murphy
Margin regulations, T and U, reply to inquiry from Mr.
Robert Sterling re loan to be secured by
stocks registered on New York Stock Exchange
Margin requirements, increase, no action to be taken at
present
Increase, question to be discussed by Chairman McCabe
with Chairman of SEC
Increase, discussion of Chairman McCabe with Chairman
of SEC, increase to 75 per cent favored
Increase from 50 to 75 per cent approved
Amendment to regulations re, advice to Mr. S. H. Scheuer
Reply to Mr. Irvin on application of Regulation T
Advice to Mr. Wilson re effect of section 3(a) of Regulation T on trades in old account with one
broker and new account with different
broker
Withdrawal of funds, reply to inquiry from Mr. Howard
S. Keep
On short sales, reply to suggestion of Mr. Scheuer
Midwest Stock Exchange, application of Regulation T to member registered and acting as specialist
in registered securities, advice to
FRBank of Chicago
Designation under section 4(g) of Regulation T, inquiry
re requirements as to specialist's reports,
advice to FRBank of Chicago
Regulation T, amendment to relax restrictions on capital
contribution loans, views of FRBanks requested
Payment of interest or dividends from special subscription account under section 4(h),
advice to Mr. Norman Freehling
Margin requirements, statement to be published in
FRBulletin




9/24

3/8

1988

527

12/13

2410

/
12 5

2364

11/26

2303

3/6

500

1/4

30

1/9

78

1/11
1/16
2/1
2/2

103
125
233
241

2/5

248

2/16
2/16

361
363

1/30

221

3/13

573

5/11

1031

7/23

1604

9/10

1903

357
Pages
Securities exchange administration: (continued)
Regulation U, interpretation sent to FRBanks, to be published in FRBulletin and Federal Register
Report of task force subcommittee on stabilization of
market and controlling inflation of private credit to be submitted, statement of
Mr. Szymczak on
Report on stock market to be made at Tuesday Board meetings
Stock dividends, withdrawal from account not permitted under
section 6(g) of Regulation T
Stock market, report by Mr. Young on developments
Stock market developments, report by Messrs. Szymczak and
Young
Schmidt on, no need at present for increase
Memo of Mr.
in margin requirements
Task force subcommittees to be appointed by Mr. Wilson to
make reports on stabilization of market
for public securities
Warrants to expire within 90 days, section 4(h) of Regulation T not applicable to, advice to FRBank
of Chicago
Withdrawal and substitution privilege, amendment of, question being studied by staff with SEC,
statement of Mr. Szymczak on
Securities Investment Company, Omaha, Nebraska, Regulation WI
reply to inquiry from Mr. Anderson re
need for
Security, Committee on International Security Affairs, participation of members of Board's staff in
work, letter to Mr. Cabot, State Department
Se .
curlty officer, Mr. Thurston designated as
ecurity procedures, information requiring safeguarding, Mr.
'
Thurston designated as security officer
of Board to handle
Security risks, reply to letter from Mr. Whearty of Department
of Justice on procedures
Segal, Benjamin, shortage in mortgage funds, letter to Senator
Humphrey re change in open market policy
8eminars:
Board and FRBanks, information sent to Mr. Quattlebaum in
response to questionnaire on educational
projects and activities
Central Banking Seminar to be held in San Francisco,
September 17-21, invitation to staff members to participate in, advice to Mr.
Earhart
Central Banking Seminar to be held in September at FRBank
of San Francisco, Messrs. Thomas, Sherman,
and Williams to represent Board
elpulveda Park Apartments, Beverly Hills, Calif., Regulation X
question re loan guaranteed in part by VA,
advice to FRBank of San Francisco




12/28

2514

3/15
4/10

594
757

2/2
4/17

241
820

5/1

936

9/27

2015

3/8

524

3/12

567

4/10

758

3/16

609

5/9
10/26

1005
2171

10/26

2171

9/4

1861

8/23

1807

5/18

1126

6/29

1463

8/22

1795

2/26

443

358
Pages
Shafer, Paul W., Regulation W, letter from Mr. B. G. Goslin on
amount and timing of instalment payments
10/19
2141
Shreiner, J. H., study re active service death benefits for
employees of FRSystem, firm of Towers,
Perrin, Forster & Crosby, Inc., authorized
to make
1/3
23
Siglientil Stefano, President, Italian Bankers Association,
designation of Mr. Evans as representative
to International Credit Conference, advice
to
9/7
1897
Silver certificates shipment to FRBanks to be held in special
custody account
8/31
1851
!!
1110t1s, Peter J., Regulation W, comments on effects of
6/13
1329
"
4-tIger Sewing Machine Company, Regulation W, application to
several products, advice to FRBank of New
York
813
4/16
Siragusa, R. D., Admiral Corporation, Regulation W, trade—ins
as down payment, invitation to meeting
for discussion
1855
/
94
Slides, Treasury series on fiscal position of Government, pre—
sentation and discussion at Board meeting
4/26
893
luau business:
Amendments to FRAct to provide financial aid in normal
times, suggestions sent to Senator
Robertson
5/21
1141
Bank credit available for, letter from Mr. Schommer to
Senator Wiley on lack of
62
/9
1464
Commission on Small Business for California, resolution
that FRBanks be given authority to approve
Regulation V loans
6/11
1284
Executive order delegating certain functions of President
under Defense Production Act of 1950, re—
port to Bureau of the Budget
1263
6/6
Federal Loan Insurance Associations, plan of Smaller Busi—
ness of America, Inc., for establishment
to supply credit to
5/22 1157
Loans, industrial, question of increased activities under
section 13b to aid small business concerns,
to be considered further
1/16
130
Loans for, draft of bill sent to Senator Robertson
6/6
1260
Section 13b loans, increase in activities to aid under
Regulation V guarantee, comments of FRBanks
requested
1/23
167
S. 533 and S. 833, reports sent to Bureau of the Budget
4/12
790
S. 1647, bill to amend Section 13b of FRAct, letter to
Senator Robertson and statement for hear—
ings approved
1480
/
73
Section 13b loans, relationship to V—loan program and use
in present credit situation, discussion at
Presidents Conference
10/4
2049




359
Pages
Small Defense Plants Administration:
Subcontracts, requirement that subcontractors permit general right of setoff against payments due
under, Messrs. Boothe and Hackley to meet
with Mr. Dyas for discussion of practice
Small loan companies, violations of Regulation W
kith, Charles H., Regulation W, relief requested for financing of home modernization, repairs or
improvements
kith, F. Abbott, visit to Chairman's Office to discuss aid to
small business man under Regulation V
Smith, Willis, Regulation W, trade-ins to be used as part of
down payment on appliances, letter from
Mr. Tom Glasgow
slaltnY, Rudolf, member of Voluntary Credit Restraint Committee
to represent Investment Bankers Association, to be appointed
SraYthe, Mark T., Regulation W, refinancing of installment
obligation arising out of sale of automobile on January 1, 1951, reply to inquiry
Snyder, Calvin K., Regulation X, reply to letter re maximum
loan value on property
s Letter from Mr. Dupuy re Section 2(i), maximum loan value
°cony-Vacuum Oil Company, Regulation X, question of installation of hydraulic hoists in service station
further information required for additional consideration
,
,.oloski, E. B. A., Regulation X, protest re
°01ar Corporation, enlarged building and lease subject to
Regulation X
rells, Gilbert, Regulation X, advice re issuance and terms
41c1
s' proofing of ceiling of cafeteria approved
Pahr, Walter E., interest charges on FRnotes, reply to letter
re action of Board
Sn
rarling, W. A., Oakland, Calif., resolution of Oakland Chamber
of Commerce requesting declaration of
Alameda County as critical area for housing
SParkman, John, Regulation W, trade-in as down payment on sale
of appliances, reply to letter enclosing
petition of Jackson, Miss., citizens
Pence, Brent, Regulation W, letter from Mr. Sanning re home
improvements and repairs, reply to
, Views of Board sent to Senator Maybank and
s
'eff of Board of Governors:
Additions to divisions and number of promotions approved
since first of year, memo to be prepared
by Division of Personnel Administration
Appointments, procedure approved
Attorney and legal stenographer, services in connection
with Transamerica report of Mr. Evans
approved




11/20
7/31

2291
1655

4/9

748

1/23

167

7/9

1513

3/13

578

8/15

1751

8/30
9/27

1846
2021

12/7
8/2

2388
1676

6/26
9/13
9/17

1432
1930
1944

3/29

706

2/9

318

3/19

616

4/9
/
7 5

750
1490

3/27
6/12

679
1302

3/29

699

360
Pages
8taff of Board of Governors: (continued)
Board Members Section:
Benton, Madeleine E., Administrative Assistant, appoint4/5
ment, salary, and duties approved
to conform with general pay inSalary increased
10/26
crease
messenger, salary increased to conform
Branic, Otto H.,
10/26
with general pay increase
Brown, Fletcher E., messenger, salary increased to con10/26
form with general increase
Clarke L., Administrative Assistant to Chairman,
Fauver,
1/11
salary increased
Transfer to Division of Selective Credit Regulation
as Assistant temporarily and appointment as
Assistant Director when Mr. Heath leaves
approved, but matter to be brought to
attention of Board again before effective
3/29
date
Assistant to Mr. Thurston, transfer from Division
of Selective Credit Regulation and salary
12/18
approved
12/20
Salary increased
Frost, Fredrick L., messenger, salary increased to
10/26
conform with general pay increase
Hamilton, James F., messenger, salary increased to con10/26
form with general pay increase
Hart, Bishop, messenger, salary increased to conform
10/26
with general pay increase
Jamison, Michael L., messenger, salary increased to con10/26
form with general pay increase
Morrill, Chester, plaque to be placed in Special Library,
8/17
wording approved
Muehlhaus, Margaret N., Secretary to Mr. Thurston,
salary increased to conform with general
10/26
pay increase
inNewcome, Elnyr D., Secretary to Mr. Thomas, salary
creased to conform with general pay
10/26
increase
transfer to Division of
Norris, Charles R., clerk,
Administrative Services as operator,
duplicating devices, without change in
9/13
salary approved
to Chairman:
Riefler, Winfield, Assistant
Designation to serve on Emergency Washington Committee for relief of flooded areas in
/4
72
Middle West
5/23
on draft bill
Reserve requirements, views
1/11
Salary increased
1/25
meeting at Treasury
Tax legislation, to attend




736
2164
2165
2165
99

700

2442
2470
2165
2165
2165
2165
1766

2165

2165

1930

1614
1165

99
191

361
Pages
Staff of Board of Governors: (continued)
Board Members Section: (continued)
Schmidt, Catherine L., Secretary to Mr. Riefler, salary
increased to conform with general pay increase
Thomas, Woodlief, Economic Adviser to Board:
Alternate chief of U. S. delegation at meeting of
technical experts from Latin American
Republics
Designation as member of U. S. delegation to session
of Inter-American Economic and Social
Council to be held in Panama
Report on open market operations during recent weeks
Report on developments in money market and effects
of increase in member bank reserve requirements
Report on Government securities market
Report on Government securities market
Report on developments in Government security market
Report on developments in Government security market
Review of developments in Government securities
market
Report on Government securities market
Report on developments in Government securities
market
Report on developments in Government securities
market
Report on developments in Government securities
market
Report on Government securities market
Report on Government securities market and comments
on reaction to recent Treasury announcement for refunding of securities maturing
in June and July
Report on recent developments in Government securities market
Report on developments in Government securities
market
Report on Government securities market
Report on developments in Government securities
market
Report on developments in Government securities
market
Report on developments in Government securities
market
Report on developments in Government securities
market
Report on developments in Government securities
market
Report on Government securities market
Report on open market developments




10/26

2165

7/9

1509

8/3
1/9

1680
83

1/16
2/27
3/6
3/8
3/20

124
446
493
525
618

3/27
4/3

676
716

4/10

756

4/17

819

4/24
5/1

877
934

6/5

1241

6/12

1298

6/19

6/26

1363
1418

7/3

1478

7/17

1554

7/24

1608

7/31

1644

/
87
8/21
9/11

1692
1783
1915

362
Pages
Staff of Board of Governors: (continued)
Board Members Section: (continued)
Thomas, Woodlief: (continued)
Report on developments in Goveriment securities
market
Report on developments in Government securities
market
Report on developments in Government securities
market
Salary increased
To discuss monetary and fiscal policy matters at
Central Banking Seminar at FRBank of San
Francisco
Thurston, Elliott, Assistant to the Board:
Communications of Board to be edited by, approved
in connection with letter to Office of
Defense Mobilization
Designation as security officer
Salary increased
To review schedule of meetings and report whether
series of six directors' meetings could be
arranged to harmonize with
Budget Officer, designation and duties, procedure approved
Cafeteria:
Adwell, Lydia M., cafeteria helper, salary increased
Brown, Eva M., baker, salary increased
Carey, Charles V., cafeteria helper, transfer to Division of Bank Operations as messenger and
salary increase approved
Cobey, William, cafeteria laborer, salary increased
Crawford, Mary, head cook, salary increased
Dulin, Vera V., cafeteria helper, salary increased
Ferguson, Mrs. Angelina M., cafeteria helper, appointment on temporary basis and salary
approved
Extension of appointment for two months without
change in salary approved
Gaby, Mrs. Theresa Frances, cafeteria helper, appointment on temporary basis and salary approved
Resignation
Gallagher, Catherine, cafeteria helper, salary increased
Henson, Mrs. Myrtle, cafeteria helper, resignation
Imhoff, Anna E., cook, salary increased
Jones, Pearl, cook, salary increased
McCalley, Mrs. Anita Baker, Assistant Supervisor,
appointment on temporary basis and salary
approved
Payne, Della, cafeteria helper, resignation
Preble, Mildred L., Assistant Supervisor, resignation
Psomos, George, cafeteria laborer, salary increased




10/30

2182

11/6

2206

12/20
1/11

2460

8 22
/

1795

7/24
10/26
1/11

1615
2171

6/19
6/12

1364
1303

99

99

12/4
12/4

2361
2361

2/8
2/16
1/24
12/27

272
357
179
2500

9/19

1964

12/7

2384

4/4
12/4
10/9
9/18
12/4
12/4

723
2361
2076
1962
2361
2362

11 1
/4
1/3
11/14
2/16

2245
69
2245
357

363
Pages
Staff of Board of Governors: (continued)
Cafeteria: (continued)
Thompson, Abner, cafeteria helper, appointment on temporary basis and salary approved
Salary increased
Extension of appointment on temporary basis without
change in salary approved
Tidwell, Henry, cafeteria laborer, appointment on temporary basis and salary approved
Tull, Winnie L., Junior Supervisor, salary increased
Venable, Geraldine M., cafeteria helper, salary increased
Wilson, Lela M., cafeteria helper, salary increased
Central Banking Seminar in San Francisco, representatives
of staff to attend
Charwomen:
Carroll, Alene D., salary increased
Faina, Mrs. Valerie V., appointment on temporary basis
and salary approved
Extension of temporary appointment approved
Green, Lettie E., appointment on temporary basis and
salary approved
Extension of temporary appointment without change
in salary approved
Granted leave of absence without pay for four
months
Mosher, Dorothy R., salary increased
Richardson, C. H., salary increased
Utz, Anna M., salary increased
Chauffeurs:
Bell, J. Frank, salary increased
Crowell, Charles E., salary increased
Rowzee, Reuben, salary increased
Salary increase discussed, question referred to Personnel Committee
Salaries, increase suggested by Mr. Vardaman, matter to
be reconsidered after return of Mr. Evans
from Europe
Salary increase, Personnel Committee to make recommendation after completion of study
Consultants:
Calkins, Robert DeB., special consultant for Patman
questionnaire, appointment, compensation,
and travel expenses approved
Commercial bank economist, suggested by Mr. Powell for
appointment on Patman subcommittee questionnaire group
Copeland, Morris A., Division of Research and Statistics, reemployment, compensation, and
travel expenses approved




1/17
2/16

138
357

3/21

635

3/7
12/4

507
2362

7/10
11/15

1518
2259

6/29

1463

9/7

1883

5/18
7/18

1119
1569

3/20

628

5/15

1085

6/21
7/5
8/21
3/20

1385
1501
1786
627

4/19
/4
1 2
12/27

858
179
2500

8/28

1839

11/13

2223

12/20

2473

10/19

2143

10/15

2105

/
6 15

1347

364
Pages
Staff of Board of Governors: (continued)
Consultants: (continued)
Cox, Professor Reavis, appointment for work on consumer
credit series revision, compensation, and
10/26
travel expenses approved
12/4
Fisher, Charles T., Jr., present at Board meeting
Fisher, Ernest M., to be continued for 1951, compensa1/3
tion and travel expenses approved
discussion of
Goldenweiser, E. A., Transamerica case,
62
/8
payment of fees and expenses
appointSpecial consultant for Pathan questionnaire,
ment, compensation, and travel expenses
10/19
approved
for work on conHaring, Professor Albert, appointment
sumer credit series revision, compensa10/26
tion, and travel expenses approved
and continuation of
Hilkert, Robert N., appointment
current arrangement for reimbursement of
FRBank of Philadelphia for salary and
expenses approved, requests for services
to be subject to approval of Personnel
6/5
Committee
FRBank of Philadelphia for
Voucher to reimburse
services and expenses during two days in
9/14
August approved
Holthausen, Duncan M., to be continued on list for 1951,
1/3
compensation and travel expenses approved
10/26
series revision approved
Work on consumer credit
List of employees under Defense Production Act of 1950
and Executive Order No. 10161 sent to
1/12
Federal Register
Lone, James H., status to be changed from that of
employee to consultant since receiving
12/18
remuneration from University of Chicago
Morrill, Chester, to assist with Patman questionnaire,
11/19
per diem compensation approved
Parry, Carl E., special consultant for Patman questionnaire, appointment, compensation, and
10/19
travel expenses approved
Patman subcommittee questionnaire, appointment of
advisory group of not more than 10, including one political scientist, and compensa10/15
tion approved
Reierson, Roy L., Division of Research and Statistics,
employment, compensation, and travel expenses approved, receipt of compensation
8/23
to be waived
Certification re appointment sent to Federal
9/5
Register
Special Consultant to Mr. Powell, press statement
9/10
re appointment




2173
2336
18
1455

2140

2173

1248

1940
18
2174

113

2442
2271

2140

2103

1804
1868
1900

365
Pages
Staff of Board of Governors: (continued)
Consultants: (continued)
Robinson, Roland I., to assist with work on Voluntary
Credit Restraint Program, appointment,
5/29
compensation, and travel expenses approved
to be made in connection with
Salaries, no adjustaents
10/26
general pay increase
suggested by Mr. Vardaman for
Saulnier, Raymond J.,
appointment to work on Patman subcommittee
10/15
questionnaire
Special consultant for Patalan questionnaire, appointment, compensation, and travel expenses
10/19
approved
Appointment for work on consumer credit series revision, compensation, and travel expenses
10/26
approved
Schultz, T. W., special consultant for Patman questionnaire, appointment, compensation, and
10/19
travel expenses approved
Stewart, Walter W., special consultant for Pathan questionnaire, appointment, compensation, and
10/19
travel expenses approved
Viner, Jacob, special consultant for Patman questionnaire, appointment, compensation, and
10/19
travel expenses approved
Wilde, Frazar B., real estate credit work, appointment,
1/2
compensation and travel expenses approved
Wilmerding, Lucius, special consultant for Patman
questionnaire, appointment, compensation,
10/19
and travel expenses approved
Counsel's Office:
Boyd, Mrs. Eunice M., stenographer, appointment on
3/14
temporary basis and salary approved
8/9
Salary increased
Crosby, Jean, secretary to Mr. Hackley, salary increased 9/11
Dixon, Rita M., stenographer, appointment on temporary
1/26
basis and salary approved
3/16
Resignation
for reDyer, Sara A., clerk-stenographer, application
3/19
tirement noted
secretary to Mr. Solomon,
Edwards, Mrs. Evelyn W.,
9/11
salary increased
1/19
salary increased
Entriken, S. E., law clerk,
General Counsel, amendment to
Hackley, Howard H., Asst.
2/13
Assignment of Claims Act, statement
re subcontracts with AdminTo discuss practice
istrator of Small Defense Plants Admin/0
11 2
istration
12 2
/0
Salary increased




1210
2166

2104

2140

2174

2140

2139

2140

6
2140

582
1719
1917
201
604
613
1917
150
328

2291
2470

366
Pages
Staff of Board of Governors: (continued)
Counsel's Office: (continued)
Harrison, Eugene C., clerk, transfer from Secretary's
Office without change in salary and extension of appointment approved
Appointment made permanent without change in salary
Salary increased
Granted leave without pay for military service
Hufford, Mrs. Erma Lee, stenographer, salary increased
Hooff, Wilson L., Asst. Counsel, salary increased
Kellison, J. Bruce, law clerk, resignation
Lewis, Richard J., law clerk, salary increased
McColloch, Mrs. Lucy I., Secretary to Mr. Vest, salary
increased
Omohundro, Eleanor:
Stenographer, appointment on temporary basis and
salary approved
Clerk-stenographer, salary increased
O'Shea, Robert S., law clerk, appointment on temporary
basis and salary approved
Shay, Jerome W.:
Consumer credit controls in Canada, to report on
Report on consumer credit regulations in Canada
Memo re status of Marine Midland Corporation as bank
holding company under section 7 of Clayton
Act
Solomon, Frederic, Asst. General Counsel:
Salary increased
To serve on inter-agency committee re China Lobby
To participate in Puerto Rican mission
Puerto Rican mission, authorization for trip and
expenses
Summary of discussion at meeting with T & E Company,
Inc., representatives
Salary increased
Stakes, Mrs. Christine B., stenographer, resignation
Tinsley, William H., Jr., Assistant Counsel, leave and
expenses approved for attendance at
Graduate School of Banking
Vest, George B., General Counsel:
Appointment as alternate chairman of Voluntary
Credit Restraint Committee to serve in
absence of Mr. Powell
Assignment of Claims Act, draft of statement re
amendment to be read at hearing approved
Defense Production Act, draft of bill to amend,
letter to Herbert A. Bergson to be signed
by
Legislation to be proposed to Congress, requested
to submit suggestions




1/3
7/9
8 1
/4
/6
11 1
4/19
/7
4 2
4/4
5/11

18
1509
1748
2265
858
901
724
1029

3/2

477

2/27
10/12

458
2093

5/10

1013

4/17
4/24

820
883

12/14

2418

1/11
7/26
9/17

99
1630
1945

10/18

2135

12/14
12/20
2/26

2415
2470
437

2/7

268

6 15
/

1348

3/6

505

3/23

663

/
1 2

5

367
Pages
Staff of Board of Governors: (continued)
Counsel's Office: (continued)
Vest, George B., General Counsel: (continued)
Meeting of representatives of financing institutions
in New York on voluntary credit agreements,
2/1
to attend with Mr. Powell
1/11
Salary increased
S. 1717, to extend and amend Defense Production Act
of 1950, discussion at Office of Defense
7/24
Mobilization
Task force subcommittee report on credit control,
dissenting statement re Federal Reserve
as administrative agency for procedure
3/15
To reply to letter from Mr. Berger requesting copy
of letter to Mercantile-Commerce Bank and
Trust Company, St. Louis, re option to
7/12
purchase Mercantile-Commerce National Bank
Vigeant, Diane K., stenographer:
6/4
Appointment on temporary basis and salary approved
8/20
Resignation
Deceased, settlement of accounts, memorandum to be dis3/14
tributed to staff
Division of Administrative Services:
Abell, Doris Inez, stenographer:
6/20
Appointment on temporary basis and salary approved
Transfer to Office of Mr. Vardaman with no change
9/26
in salary approved
Bailey, Etta M., page, appointment on temporary basis
10/30
and salary approved
Baker, Ellery W., correspondence clerk, application for
12/21
retirement noted
Ball, L. L., Asst. Supervisor, Telegraph Section,
8/21
salary increased
Barnes, Bricen, operator (mimeograph), salary increased
3/7
Battle, John Henry, laborer:
1/23
Appointment made permanent without change in salnry
2/16
increased
Salary
6/4
guard, salary increased
Becker, William F.,
Beer, Mrs. Elizabeth M., nee Elizabeth J. McGuire,
stenographer, resignation
9/12
4/19
Bell, J. Frank, head chauffeur, salary increased
Bethea, L. P., Director:
Designation as representative on Federal Safety
1/31
Council
1/11
Salary increased
Antllo/ied to act for Board in local Civil Defense
7/20
matters, advice to GSA
Beuchert, Carl E., Jr., clerk, appointment on temporary
3/28
basis and salary approved
3/20
Blash, John, maintenance mechanic, salary increased




228
99

1608

592

1536
1234
1777
585

1379
2006
2185
2483
1786
506
173
357
1233
1924
858

226
99
1598
689
627

368
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Bloch, Stanley J., Asst. Supervisor, Duplicating and
Mail Section, salary increased
Booth, Mrs. Gertrude E., stenographer, resignation
Boothe, Woodley, General Mechanic, salary increased
Brown, Mrs. Jeanette L., stenographer, resignation
Buckley, Thomas N., telegraph operator, to be reemployed
after military service if desired, but
extension of six months duty not approved
Bundy, Herbert W., operator, mimeograph, salary increased
Capozio, Helen M., clerk, salary increased
Section,
Carmichael, Elizabeth L., Chief, Publications 0
salary increased
Carrick, Elsie N.:
Stenographer, salary increased
Asst. Supervisor, Stenographic Section, salary
increased
Carroll, Alene D., charwoman, salary increased
Carter, Beverly A., mail clerk, salary increased
Carter, Robert B., laborer, salary increased
Cassidy, Alton W., Asst. Gardener:
Salary increased
Resignation
Chauffeurs:
Salaries, increase suggested by Mr. Vardaman,
matter to be reconsidered after return
of Mr. Evans from Europe
Salary increase, Personnel Committee to make recommendation after completion of study
Chism, Alvina Idamay, page, appointment on temporary
basis and salary approved
Clanton, Saul, laborer:
Appointment on temporary basis and salary approved
Extension of temporary appointment without change
in salary approved
Coleman, Jeffrey Byrd, laborer, appointment on temporary basis and salary approved
Wesley B., mail clerk, salary increased
Collison, Mrs. Dessie A., page, resignation
Constable, Frank W., photographer (offset), salary
increased
Cook, Leita, clerk-typist, salary increased
Cooley, L. H., telegraph operator, salary increased
Courtney, Mrs. Anna S., stenographer, appointment on
temporary basis and salary approved
Craft, Robert H., guard, salary increased
Crowell, Charles E., chauffeur, salary increased
Dinkins, Benjamin L., mail clerk, salary increased
Dorsey, Mary E., printing clerk, salary increased




6/19
6/5
1/18
9/12

1373
1250
141
1924

12/6

2376

11/15
11/2

2259
2201

1/18

141

9/7

1883

12/20
9/7
2/15
2/16

2474
1883
349
357

2/16
12/17

357
2431

11/13

2223

12/20

2473

6/11

1276

3/14

582

5/15

1085

X11
8/23

2tZColins,
1804

1373
6/19
7/13
1546
1786
1/24
/21
11 7
8

4/4
2/15
11
/8

2212
724
179
349
141

369
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Dyson, Nelson S., bindery worker, salary increased
Faber, Philip D., supply clerk, salary increased
Faina, Mrs. Valerie V., charwoman, appointment on
temporary basis and salary approved
Extension of temporary appointment approved
Fink, Martha Jane, page, appointment on temporary basis
and salary approved
Fitzhugh, Donald B., operator (tab. equip.), appointment
on temporary basis and salary approved
Flagg, M. P., telegraph operator, salary increased
Florea, Hiram H., guard, salary increased
Fornof, Mrs. Catharine Aurelia, stenographer, appointment on temporary basis and salary
approved
Fowler, Preston E., laborer, salary increased
Goodyear, Mrs. Ruth Hadley, stenographer, transfer to
Secretary's Office as secretary to Mr.
Murff and salary increase approved
Green, Lettie E., charwoman, appointment on temporary
basis and salary approved
Extension of temporary appointment without change
in salary approved
Granted leave of absence without pay for four
months
Hampton, Edward L., tabulation planner, salary increased
Salary increased
Hanlon, Noreen R., page, transfer to Division of International Finance as clerk and salary increase approved
Harris, Martha Jane, stenographer, appointment on
temporary basis and salary approved
Resignation
Henn, Margaret, page, salary increased
Resignation
Hiller, Mrs. Louise L., key punch operator, salary
increased
Hopkins, Glenn B., painter, salary increased
Hoyle, Joseph H., pay roll clerk, salary increased
Hughes, Lillian E., page, appointment on temporary
basis and salary approved
Hulen, Helen L., publications clerk, salary increased
Hurst, Mrs. Dorothy S., clerk-stenographer, transfer
to Office of Mr. Powell as stenographer
and salary increase approved
Hyde, William, sergeant, Guard Force, salary increased
Johnson, Claiborne, senior mail clerk, salary increased
Salary increased




6/19
7/5

1373
1501

5/18
7/18

1119
1569

/8
61

1355

11/16
/1
82
8/21

2266
1786
1786

10/2
2/16

2033
357

4/26

895

3/20

628

5/15

1085

6/21
4/19
6/4

1385
858
1234

6/6

1257

7/24
10/12
7/5
8/23

1616
2092
1501
1804

10/17
/
64
12/4

2125
1233
2361

9/27
1/18

2017
141

/0
62

1379

7/5
2/15
10/9

1501

349
2075

370
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Johnson, Edwin J., Assistant Director, appointment and
salary approved
Salary increased
Johnson, Mary E., telephone operator, salary increased
Johnson, Sven, foreman of laborers, granted military
leave for active duty with U. S. Naval
Reserve
Jones, Everett, laborer, salary increased
Kakalec, John, accounting clerk, transfer to Division
of Bank Operations as analyst and salary
increased
Kelleher, Joseph E., Acting Assistant Director, appointment and salary approved
Assistant Director, appointment on nonpermanent
basis approved
Designation as alternate representative for Federal
Safety Council
Designation as Chief Building Warden, advice to GSA
Salary increased
Kern, Harry E., Supervisor, Procurement Section, salary
increased
Kolb, Raymond C., Chief, Machine Tabulation Section:
Leave of absence and expenses approved for attendance at Graduate School of Banking
Salary increased
Registration statement under Regulation X, questions on mechanical processing to be taken
up with
Transfer to Division of Bank Operations and salary
increase approved
Kopfman, Thomas V., clerk, reinstatement and salary approved upon return from military leave
Kramer, F. Allison, accounting clerk, salary increased
Kurtz, Frances T., operator, key punch, salary increased
Kushner, Howard W., telegraph operator, salary increased
Resignation
Ladd, Hugh T., offset pressman, salary increased
Salary increased
Lally, Josephine E., deputy disbursing officer, salary
increased
LaTorre, Vincent T., operator, tab. equip., resignation
Lewis, Evelyn M., elevator operator, salary increased
Long, Thelma Mae, elevator operator, appointment on
temporary basis and salary approved
Extension of temporary appointment without change
in salary approved
Love, James, laborer, salary increased
Resignation
Resignation rescinded




5/28
12/20
4/19

1194
2471
858

1/5
2/16

62
357

3/29

703

1/9

77

1/11

100

1/31
7/20
12/20

226
1598
2471

10/9

2076

2/7
3/7

268
506

6/1

1231

10/9

2075

12/12
1/24
20/9
2/8
7/31
2/15
9/27

2398
179
2076
272
1659

349
2017

10/9
4/30
3/7

2076
911
506

7/17

1562

10/18
2/16
12/4
12/19

2131
357
2361
2452

371
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Lynch, J. Paul, reservation clerk, salary increased
Lyon, John N., accountant, salary increased
Machine tabulation, operation of equipment on night
shift and employment of Senior Tabulation
Equipment Operator and Key-Punch Operator
approved
Mahoney, Elaine, stenographer, appointment for three
months and salary approved
Resignation
Marino, Mrs. Ann Marie, elevator operator, appointment
on temporary basis and salary approved
March, G. L., telegraph operator, salary increased
Martin, Raymond J., operator (duplicating devices),
reinstatement and salary approved upon
return from military leave
McCalley, Mrs. Anita Baker, Asst. Supervisor, Cafeteria, appointment on temporary basis
and salary approved
McCarthy, Constance F., clerk, resignation
McDonald, William R., clerk, salary increased
McGuire, Elizabeth J., stenographer, granted leave of
absence without pay
Ernest A., clerk, appointment on temporary
McKinney,
basis and salary approved
Pauline A., stenographer, appointment on
Melton, Mrs.
temporary basis and salary approved
Minutolo, Alfred W., operator, tabulating equipment,
salary increased
Salary increased
Mock, Fannie L., elevator operator, salary increased
Moffett, Bruce L., offset press operator, salary increased
Salary increased
Moon, Donald W., clerk, salary increased
Salary increased
Morgan, Mrs. Peggy W., clerk-stenographer, resignation
Mosher, Dorothy R., charwoman, salary increased
Mull, Lura Jean, page, appointment on temporary basis
and salary approved
Murphy, Mary F., elevator operator, salary increased
Transfer to position of clerk and salary increase
approved
Myers, Arthur S., operating engineer, salary increased
Salary increased
Myers, Edwina Young, stenographer, appointment on
temporary basis and salary approved
Resignation
Myers, Jean W., clerk, salary increased




2/8
/9
61

272
1373

10/10

2083

6/18
/4
81

1356
1748

7/12
/1
82

1540
1786

12/19

2453

11/14
61
/9
12/4

2245
1374
2361

6/5

1250

4/17

837

10/18

2130

5/17
64
/
12/27

1103
1234
2500

6/19
7/12
1/24
3/15
3/14
7/5

1373
1540
179

9/13
1/24

1929
179

7/5

1502

64
/

1233

11/1

2196

595
582
1501

/8
61

1355

9/12
2/8

1924
272

372
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Norris, Charles R., operator, duplicating devices, transfer from Board Members Section without
9/13
change in salary approved
Salary increased to conform with general pay in10/26
crease
/4
12
T., accounting clerk, salary increased
Oros, Susie
4/27
Salary increased
12/4
Osborne, John E., operating engineer, salary increased
M., Supervisor, Telegraph Section, salary inOtt, H.
8/21
creased
Letter of commendation for efficient work of office
12/20
to be sent to
Palmer, Mrs. Ethelyn M., secretary to Mr. Kelleher,
2/15
salary increased
Peregory, Walter L., offset press operator, reinstate8/14
ment after military leave approved
12/4
Salary increased
7/13
Petrey, Nancy C., clerk-stenographer, salary increased
Pollard, Wayne A., Asst. Chief, Fiscal Section, salary
4/10
increased
8/21
Pool, W. S., telegraph operator, salary increased
Preble, Mildred L., Asst. Supervisor of Cafeteria,
resignation
11/14
Reading, Benjamin R., accounting clerk, salary in4/27
creased
4/19
Reamey, Dorothy, operator (key punch), salary increased
6/4
Salary increased
Redmond, Mrs. Mary C., clerk, appointment on temporary
4/16
basis and salary approved
2/16
Reece, Rudolph, laborer, salary increased
8/21
Richardson, C. H., charwoman, salary increased
Riston, Percy C., assistant foreman of laborers (N),
2/21
salary increased
temporary
Robinson, Katherine, page, appointment on
5/29
basis and salary approved
9/5
Resignation
10/5
Rollins, Mrs. Patricia A., page, resignation
7/5
Roush, Hiram J., guard, salary increased
12/27
chauffeur, salary increased
Rowzee, Reuben,
Russell, George H., Jr., operator (mimeograph), appointment extended on temporary indefinite
6/7
basis without change in salary
/2
62
Salary increased
secretary to Mr. Bethea, salary
Sanders, Mrs. Mary E.,
9/7
increased
stenographer, transfer from Mr.
Saunders Dorothy L.,
Eccles' office and salary increase
10/18
approved
12/27
Shaker, Richard, guard, salary increased




1930
2166
179
900
2361
1786
2473
349
1749
2361
1546
771
1786
2245
900
858
1234
812
357
1786
423
1209
1864
2070
1501
2500

1272
1399
1883

2131
2500

373
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Shepherd, Mrs. Ileen C., cleric, salary increased
Printing clerk, salary increased
Shipp, Arad B., general mechanic, salary increased
Sickler, Leonard C., clerk, appointment on temporary
basis and salary approved
Simmons, Aubrey L., laborer, salary increased
Smith, Mrs. Mary J. A., stenographer, appointment on
temporar3, basis and salary approved
Smith, William Russell, laborer, appointment made
permanent without change in salary
Salary increased
Snider, Merrill W., key punch operator, appointment on
temporary basis and salary approved
Resignation
Spano, Mrs. Mildred D., stenographer, salary increased
Spencer, George L., Jr., clerk-stenographer, appointment on temporary basis and salary approved
Stanley, Mrs. Pauline E., clerk, resignation
Startup, Jean, stenographer, salary increased
Steger, Karl J., general mechanic, salary increased
Stewart, James T., operator (mim.), salary increased
Surguy, J. Robert, printing clerk, salary increased
Sweeney, Helen L., clerk, salary increased
Tate, Henry, laborer, reinstatement in position upon
return from military leave and salary
approved
Taylor, Franklin, clerk (composition), salary increased
Thompson, Janet, page, resignation
Thompson, Mrs. Wanda H., operator, tabulation equipment,
appointment on temporary basis and salary
approved
Winnie L., junior supervisor of Cafeteria, salary
Tull,
increased
Turner, Mrs. Carrie S., Secretary to Mr. Johnson, transfer from Division of Bank Operations and
salary increase approved
Turner, Mrs. Jane, stenographer, resignation
Turner, Thomas Russell, laborer, appointment on temporary basis and salary approved
Resignation
Operator, duplicating devices, appointment on
temporary basis and salary approved
Twomey, Raymond C., Supervisor, Duplicating and Mail
Section, salary increased
Utz, Anna M., charwoman, salary increased
Watt, Mrs. Alice King, Asst. Supervisor, Stenographic
Section, resignation
Weeks, E. J., Sr., Asst. Foreman of Laborers, salary
increased




2/21
5/24
10/9

423
1175
2076

3/28
2/16

689
357

10/18

2130

1/22
2/16

155
357

10/30
12/14
8/14

2186
2424
1748

8/7
4/13

1700
804

12/11
3/7
1/18

2394
506

1/18
11/2

141
141
2201

11/19
6/19
5/10

2270
1373
1014

5/25

1184

12/4

2362

/7
62

1539
1437

2/13
3/14

333
582

5/15

1084

7/30
3/20

1642
627

10/11

2089

2/16

357

7/12

374
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Weikel, Mary A., telephone operator, salary increased
Wilson, Davis H., Chief of Machine Tabulation Section,
appointment on temporary basis and salary
approved
Winkler, Mrs. Ann, stenographer, resignation
Wolfe, Mrs. Margaret L., secretary to Mr. Boothe, transfer to Division of Selective Credit Regulation without change in salary approved
Wright, Joseph W., photographer (offset), salary increased
Yates, Burlon F., telegraph operator, salary increased
Yilek, J. J., supply clerk, salary increased
Young, Herbert W., mechanical superintendent, salary
increased
Division of Bank Operations:
Ball, Margaret K., statistical assistant, salary increased
Bauman, Barbara, clerk, appointment made permanent and
salary increased
Salary increased
Boyer, Rita S., statistical assistant, salary increased
Bubb, Doris Verna, statistical clerk, appointment on
temporary basis and salary approved
Burton, Mrs. Dorothy F., clerk-typist, appointment on
temporary basis and salary approved
Bryan, Evelyn, Supervisor, Member Bank Statement Unit,
salary increased
Callahan, Frank J., clerk, salary increased
Carey, Charles V., messenger, transfer from Division of
Administrative Services and salary increase approved
Clark, Caroline Mary, clerk-stenographer, transfer from
Division of Examinations approved
Salary increased
Collier, Raymond J., technical assistant, salary increased
Conkling, Gerald M., Chief, Member Bank Section, salary
increased
Conover, Esther, statistical clerk, salary increased
Crockett, David C., analyst, appointment on temporary
basis and salary approved
Cunningham, Geraldine Ann, clerk-typist, appointment on
temporary basis and salary approved
Resignation
Daniels, Mortimer B., Chief, Reserve Bank Operations
Section, salary increased
Dougherty, Mrs. Anne D., statistical clerk, salary
increased
Transfer to Division of Research and Statistics as
clerk with no change in salary approved




1/24

179

10/24
4/4

2150
723

1/9

84

9/27
t3
12

2017
2201
2394

3/15

595

7/13

1547

5/11
10/17
10/9

1030
2125
2076

12/11

2394

10/9

2077

7/13
12/12

1547
2397

2/8

272

7/12
7/16

1540
1550

2/12

321

4/18
5/8

848
998

9/20

1979

/4
61
/0
8 3

1338
1844

4/18

848

9/11

1917

12/14

2423

375
Pages
Staff of Board of Governors: (continued)
Division of Bank Operations: (continued)
Durkan, Mary M., analyst, salary increased
Salary increased
Farrell, John R., Chief, Reserve Bank Budget and Expense Section, alternate for Mr. Myrick
for handling of priorities
Salary increased
Ferris, Ora E., clerk-typist, appointment on temporary
basis and salary approved
Franklin, Frances L., statistical clerk, salary increased
Franklin, Mrs. H. Pauline, statistical clerk, salary
increased
Franzoni, J. C., technical assistant, salary increased
Fry, Mrs. Alice C., statistical clerk, salary increased
Fuhrer, Robert P., analyst, transfer to Division of
Selective Credit Regulation and salary
increase approved
Goheen, Loretta M., Supervisor, FRBank Statement Unit,
salary increased
To be granted sick leave through June 30, 1952,
not to be charged to leave subsequently
accruing
Gough, Mrs. Margaret C., clerk-stenographer, resignation
Griset, Margaret C., clerk-stenographer, salary increased
Hart, John J., technical assistant, transfer from
Division of Examinations without change
in salary approved
increased
Salary
Horbett, J. E., Assistant Director, salary increased
Reserve requirements, memo on draft bill
Member of committee to study taxation of banks
Salary increased
Hurley, John J., analyst, salary increased
Ivie, Mrs. Patricia B., Secretary to Mr. Myrick, salary
increased
Johnson, Edwin J., technical assistant, salary increased
Transfer to Division of Administrative Services as
Assistant Director and salary approved
Kakalec, John, analyst, transfer from Division of Administrative Services and salary increased
Salary increased
Kiley, J. N., Jr., technical assistant, transfer from
Division of Examinations approved
Klein, Mrs. Eleanor I., statistical clerk, appointment
made permanent and salary increased
Salary increased
Salary increased




2/12
9/28

321
2026

4/2
12/12

714
2397

61
/4

1337

10/9

2076

7/23
11/7
12/12

1603
2212
2397

1/3

17

10/9

2076

12/6
2/28

2376
463

10/9

2076

2/7
6/13
1/11
5/23
11/14
12/20
10/9

264
1322
99
1164
2247
2471
2076

11/7
4/12

2212
797

5/28

1194

3/29
9/21

703
1981

9/10

1899

5/11
9/28
12/12

1030
2026
2397

376
Pages
Staff of Board of Governors: (continued)
Division of Bank Operations: (continued)
Kolb, Raymond C., technical assistant, transfer from
Division of Administrative Services and
salary increase approved
Langham, Lee W., Supervisor, Call Report Unit, salary
increased
Leonard, Robert F., Director:
Coin shortage at FRBanks, memo on conversation with
Dr. Howard
Puerto Rican mission to be directed by
To direct Puerto Rican mission
Puerto Rican mission, authorization for trip and
expenses
Salary increased
Lynch, Mary R., clerk-typist, appointment on temporary
basis and salary approved
Massey, E. Ralph, technical assistant, salary increased
Salary increased
McAfee, John Carl, messenger, appointment on temporary
basis and salary approved
Moore, A. A., night settlement clerk, appointment
changed to provide for work on other nights
at same rate of compensation
Salary increased to conform with general pay increase
Extension of appointment, increase in compensation,
and change in title to Relief Settlement
Clerk approved
Myrick, Lowell, Assistant Director, salary increased
Designation as associate of Presidents Conference
subcommittee on Fiscal Agency Operations
Priorities for materials, machine equipment, etc.,
to supervise handling of
Poundstone, John M., settlement clerk, salary increased
Powell, Jean T., statistical clerk, appointment made
permanent and salary increased
Salary increased
Randour, Mrs. Pearle E., statistical clerk, salary increased
Ridgway, Mrs. Kathryn E., statistical clerk, appointment on temporary basis and salary approved
Roberts, Mary Louise, statistical clerk, salary
increased
Sherfy, R. E., analyst, salary increased
Skinner, Carl M., clerk, salary increased
Smith, Carolyn G., clerk-typist, appointment on temporary basis during July and August and
salary approved
Resignation




10/9

2075

11/16

2266

10/4
7/26
9/17

2047
1625
1945

10/18
1/11

2134
99

7/20
6/13
9/10

1596
1322
1899

1/11

107

5/22

1156

10/26

2166

12/28
1/11

2510
99

2/8

280

4/2
10/9

714
2076

2/12
6/13
11/7

322
1322
2212

5/11

1030

8/3
7/13
10/9

1679
1547
2076

/4
61
83
/0

1339
1844

377
Pages
Staff of Board of Governors: (continued)
Division of Bank Operations: (continued)
2/9
Smith, Howard G., analyst, salary increased
Research and Statistics as
Transfer to Division of
3/20
economist and salary increase approved
Mr. Leonard, salary
Smith, Mrs. Jewell B., Secretary to
. 5/17
increased
2/12
increased
Smith, Paul F., analyst, salary
9/14
Salary increased
Transfer to Division of Research and Statistics as
10/1
economist without change in salary
statistical clerk, resignation
4/19
Stiehler, Mrs. Grace L.,
analyst, appointment on temporary
Stocker, Norman R.,
2/7
basis and salary approved
L., statistical clerk, appointment on
Stone, Mrs. Doris
12/5
temporary basis and salary approved
L., Secretary to Mr. Horbett, salary inTrott, Sarah
2/12
creased
5/10
Carrie, clerk-stenographer, salary increased
Turner,
Transfer to Division of Administrative Services and
7/12
salary increase approved
11/15
Willis H., Jr., analyst, resignation
Underwood,
Veenstra, Theodore A., Jr., analyst, transfer to Division of Selective Credit Regulation with1/3
out change in salary approved
Mrs. Betty Jane, clerk-typist, transfer from
Vogenitz,
Division of International Finance without
2/16
change in salary approved
/9
61
Resignation
Wade, Mrs. Pearl S., clerk-stenographer, salary in5/10
creased
Walker, F. A., Supervisor, Settlement and Currency
6/7
Section, salary increased
Ware, Mrs. Nancy W., clerk-typist, transfer to Division
of Research and Statistics without change
2/26
in salary approved
10/9
Werner, Dorothy, clerk-stenographer, salary increased
5/8
Willard, Ruth B., clerk-typist, salary increased
Division of Examinations:
Anderson, Mrs. Louise S., Supervisor, Recording and
/
8 31
Stenographic Section, salary increased
of three and duties
Assistant Directorships, addition
5/23
approved
FRExaminer and salary
Barker, C. S., appointment as
3/12
increase approved
for period including nine
Expense voucher approved
days of sick leave and per diem to be paid
during illness while away from headquarters
7/24
until September 30, 1951




311
627
1103
321
1934
2031
859
264
2363
321
1014
1539
2259

17

356
1374
1014
1272

437
2076
998

1849
1167
566

1616

378
Pages
Staff of Board of Governors: (continued)
Division of Examinations: (continued)
Bartz, Charles H., FRExaminer:
Designation as representative on committee for removal of certain dies, rolls, and plates
3/29
to Fort Knox, Ky., depository
To participate in assignment of committee of Bureau
of Engraving and Printing
5/3
5/8
Salary increased
Transfer of material to Fort Knox, Ky., Depository,
to be available for further service on
6/6
committee
5/4
Jr., Asst. FRExaminer, salary increased
Bender, W. C.,
11/27
G., FRExaminer, resignation
Brown, Willis
Burns, Irene S., clerk-typist, appointment on tempo9/21
rary basis and salary approved
11/15
Resignation
Callovini, Catherine Jean, clerk-typist, appointment on
5/10
temporary basis and salary approved
Chelberg, Nancy L., Secretary to Mr. Hostrup, salary
12/14
increased
Chief FRExaminer, authorized to use same travel accom3/16
modations as assistant heads of divisions
Clark, Caroline Mary, stenographer, transfer to Divi7/12
sion of Bank Operations, approved
Clark, John F., appointment as FRExaminer and salary
3/12
increase approved
9/10
Salary increased
3/9
Cooke, Robert W., Asst. FRExaminer, salary increased
Designation and salary increase approved, formerly
7/31
Asst. FRExaminer
2/12
Corkhum, William R., Asst. FRExaminer, resignation
9/18
Cunningham, Evelyn H., stenographer, salary increased
5/4
Dons, F. A., FRExaminer, salary increased
9/18
Resignation
3/30
Dougal, W. D., FRExaminer, salary increased
9/18
Salary increased
Fisler, James V., Asst. FRExaminer, per diem in lieu of
1/11
subsistence while on sick leave approved
4/17
Salary increased
7/31
Salary increased
FRExaminer, salary increased 5/29
Francoeur, Adrien P., Asst.
3/14
Goodman, Glenn M., FRExaminer, salary increased
4/27
Examination of foreign branches to be conducted by
5/14
Authorization for travel to Europe and expenses
5/21
Advance of funds approved for trip to Europe
appointment on temporary
Gratsias, Zoe, stenographer,
6/4
basis and salary approved
9/7
Resignation




706
971
998

1259
976
2310
1980
2260
1014
2423
612
1540
566
1898
547
1660
322
1961
976
1962
709
1961
110
837
1660
1208
581
910
1041
1141
1233
1883

379
Pages
Staff of Board of Governors: (continued)
Division of Examinations: (continued)
3/1
Guth, Frank C., Jr., FRExaminer, salary increased
Examination of foreign branches, to assist in
4/27
5/14
Advance of funds approved for trip to Europe
Examination of foreign branches, authorization for
travel to Europe
5/14
5/4
Salary increased
3/7
Hall, Walter S., Asst. FRExaminer, salary increased
6/29
Resignation
Hammons, Att W., Jr., Asst. FRExaminer, salary increased 5/8
Change in headquarters from Washington, D. C., to
62
/7
Memphis, Tenn., approved
Hart, John J., FRExaminer, transfer to Division of Bank
Operations as Technical Assistant with no
2/7
change in salary approved
1/11
salary increased
Hostrup, Clarence C., Asst. Director,
12/20
Salary increased
3/7
Asst. FRExaminer, salary increased
Johnson, Malcolm F.,
5/4
Salary increased
3/30
FRExaminer, salary increased
Kiley, J. N., Jr.,
Transfer to position of Technical Assistant in
Division of Bank Operations with no salary
9/10
change approved
F., Asst. FRExaminer, salary increased
5/4
Kipfstuhl, E.
Kropog, Elizabeth A., stenographer, appointment on
7/13
temporary basis and salary approved
2/6
H., FRExaminer, salary increased
Lang, Arthur
Federal Reserve Examiner, appointment and
Chief
2/6
salary increase approved
2/20
Designation as Chief FRExaminer, advice to FRBanks
/1
62
Voucher for expenses approved
12/20
Salary increased
3/12
Lassen, W. B., Asst. FRExaminer, salary increased
7/31
Salary increased
Lyster, Elmer W., Asst. FRExaminer, headquarters changed
from Philadelphia, Pa., to Washington, D. C. 3/13
3/7
Salary increased
5/4
Salary increased
Manatt, Robert Neil, Asst. FRExaminer, appointment on
3/15
temporary basis and salary approved
3/14
Masters, Robert C., FRExaminer, salary increased
Appointment as Assistant Director and salary
12/20
approved
McGeary, J. Earle, appointment as Asst. FRExaminer and
salary increase approved, formerly
3/12
FRExaminer
3/30
McNamara, M. W., Asst. FRExaminer, salary increased
Mernah, William Ray, Jr., appointment as Asst. FRExaminer
12/21
and salary approved




471
910
1041
1042
976
506
1460
998
1437

264
99
2471
506
976
709

1899
976
1545
260
260
405
1386
2471
565
1660
572
506
976
596
581
2474

566
709
2482

380
Pages
Staff of Board of Governors: (continued)
Division of Examinations: (continued)
Messick, Mrs. Athens J., stenographer, appointment on
temporary basis and salary approved
Murff, Gordon R., Chief Field Examiner, transfer to
Office of Secretary as Assistant Secretary and salary increase approved
Nelson, F. A., Assistant Director, salary increased
Emergency plans for protection of records and
personnel, approved
Designation as FRExaminer approved
Noell, J. C., FRExaminer, salary increased to conform
with general pay increase
O'Malley, Edward K., Asst. FRExaminer, salary increased
Salary increased
Page, Grover C., Asst. FRExaminer, appointment on
temporary basis and salary approved
Fifteen days of annual leave credit approved for
Paulson, Ralph A., appointment as Asst. FRExaminer on
temporary basis and salary approved
Pettijohn, Richard T., Asst. FRExaminer, appointment and
salary approved
Plaugher, Betty J., stenographer, transfer to Division
of Selective Credit Regulation without
change in salary approved
Porter, Nancy R., Supervisor, Recording and Stenographic
Section, salary increased
Appointment as Special Asst. FRExaminer and transfer
to field staff for one year with no change
in salary approved
Rachford, Philip C., Asst. FRExaminer, leave and expenses approved for attendance at Graduate
School of Banking
Salary increased
Change in headquarters from Birmingham, Ala., to
Washington, D. C., approved
Voucher approved for attendance at Graduate School
of Banking including per diem in lieu of
subsistence for time from duty station to
New Brunswick, N. J., and return
Resignation
Rockey, Mrs. Anna F., clerk-typist, appointment on
temporary basis and salary approved
Resignation
Ronnenburg, Theodore L., Asst. FRExaminer, appointment
and salary approved
Resignation
Russell, Robert R., Asst. FRExaminer, appointment and
salary approved
Schaeffer, L. M., Asst. FRExaminer, salary increased




10/2

2033

2/6
1/11

260
99

4/17
12/18

833
2443

10/26
3/1
3/30
5/7

2166
471
709

6/21

984
1386

9/7

1883

61
/4

1339

5/25

1184

3/7

507

8/2

1669

2/7
5/4

268
976

6/1

1227

7/16
11/15

1550
2260

5/4
9/5

976
1864

4/10
12/27

771
2500

4/10
5/4

772
976

381
Pages
Staff of Board of Governors: (continued)
Division of Examinations: (continued)
Schaeffer, L. M.: (continued)
Appointment as FRExaminer and salary increase
approved, formerly Asst. FRExaminer
Schmelter, Mrs. Marian, clerk-typist, appointment on
temporary basis and salary approved
Scott, Frances, secretary to Director, salary increased
Appointment as Special Asst. FRExaminer and transfer to field staff for six months with no
change in salary approved
Salary increased
Sloan, George S., Assistant Director, salary increased
Appointment as Director approved
Salary increased
Authorized to institute and conduct examinations of
FRBanks for 1952
Salary, question of increase, statement of Mr.
Vardaman on
Smith, C. A., Asst. FRExaminer, salary increased
Smith, J. Calvin, Asst. FRExaminer, resignation
Smith, James C., FRExaminer, salary increased
Stone, Harold F., Asst. FRExaminer, appointment on
temporary basis and salary approved
Sturges, Charles P., Asst. FRExaminer, appointment on
temporary basis and salary approved
Travel expenses, field staff, advance not exceeding 28
days per diem authorized upon application
Wayne, Edward A., Acting Director, memo on examination
procedure and scope of FRBanks
Memo on responsibilities of FRSystem in bank supervision and recommendations
Adviser to Board, to discuss changes in examinations
policies and procedures with FRBanks,
FRBank of Richmond to be reimbursed for
salary and travel expenses
Voucher to reimburse FRBank of Richmond for services
and expenses approved
Wendt, K. P., Asst. FRExaminer, salary increased
Wilkes, M. R., FRExaminer, retirement on account of
disability
Division of International Finance:
Alter, Gerald M., economist, resignation
Ames, Edward, economist, appointment on temporary basis
and salary approved after discussion of
necessity for
To assist President's Materials Policy Commission
in preparation of report dealing with
Soviet orbit resources
Alternate representative on Economic Intelligence
Committee




12/19

2452

11/19
1/2

2270
11

8/2
8/31
1/11
5/23
6/1

1671
1849
99
1168
1226

12/18

2445

12/20
3/30
12/27
5/17

2471
709
2500
1103

7/11

1525

2/5

246

6/29

1462

4/19

855

5/23

1166

5/23

1168

9/14
7/31

1940
1660

4/19

858

3/23

654

1/16

129

5/11

1030

7/19

1589

382
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
3/14
Ballinger, Eleanor M., clerk, salary increased
9/11
Salary increased
11/1
Research assistant, salary increased
Bates, Henry A., messenger, appointment made permanent
6/21
without change in salary
12/13
Salary increased
Bostow, Lawrence, analyst, appointment on temporary
2/9
basis and salary approved
Brown, Amanda Patricia, clerk-typist, appointment on
8/23
temporary basis and salary approved
Bunce, Arthur C., Chief of Far Eastern Section, appointment on temporary basis and salary approved
after discussion by Chairman with Mr. Marget 7/12
Caldwell, Mrs. Myrtle B., clerk-stenographer, transfer
with salary increase to Division of
2/15
Personnel Administration
Administration
Transfer from Division of Personnel
7/23
and salary increase approved
7/26
increased
Clarke, Mary T., clerk-stenographer, salary
salary
Cox, Florence R., secretary to Mr. Dembitz,
2/8
increased
8/24
increased
Crews, Mrs. Esther G., clerk, salary
12/29
Supervisor, Information Center, salary increased
loan of services
Dembitz, Lewis N., Assistant Director,
to State Department, advice re authoriza1/26
tion and arrangements for trip to London
1/11
Salary increased
financial developments and
Report on international
review of foreign missions and requests for
4/5
technical assistance
Board on Economic Intelligence ComTo represent
7/19
mittee
12/20
Salary increased
10/31
Economon, Foteny, clerk-stenographer, salary increased
Martha Jane, clerk, appointment on temporary
Farley,
4/3
basis and salary approved
Mrs. Pearl G., clerk, transfer from SecreFarrington,
tary's Office with no change in salary
12/13
approved
Ficks, Louis G., secretary, application for retirement
/
6 22
submitted
Fowler, Gretchen H., research assistant, salary in2/8
creased
9/24
Resignation
Furth, J. Herbert, Chief, Central and Eastern European
83
/0
Section, salary increased
Garber, Margaret R., statistical assistant, salary in/9
62
creased
2/16
Gekker, Paul, economist, salary increased




581
1918
2196
1385
2408
311
1803

1538

349
1603
1629
272

1817
2515

202

99
728
1589
2470
2190
720

2408
1400
272
1986

1843
1461

355

383
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
Gillis, Harry A., Jr., economist, resignation
Gochenour, Marian E., clerk, salary increased
Salary increased
Golay, Frank H., economist, salary increased
Resignation
Grifasi, Dorothy, clerk-stenographer, appointment made
permanent without change in salary
Salary increased
Salary increased
Grimwood, Gordon, economist, salary increased
Grove, David L., mission to Paraguay approved if
assistance needed by Mr. Olson
Mission to Paraguay approved
Paraguayan mission, letter of advice re assignment
and expenses
Mission to Paraguay, return by Buenos Aires and
Montevideo approved
Authorized, advice to
Member of delegation at meeting of technical experts from Latin American Republics
Chief, Latin American Section, salary increased
Report on Paraguayan mission
Hanlon, Noreen R., clerk, transfer from Division of
Administrative Services and salary increase
approved
Hardy, William E., messenger, salary increased
Salary increased
Hartmann, Gail M., research assistant, resignation
Helprin, Mrs. Dorothy L., research assistant, salary
increased
Charles N., economist, appointment on tempoHenning,
rary basis and salary approved
Hinshaw, Randall, economist, salary increased
Hirschman, Albert O., Chief, Western European and
British Commonwealth Section, salary increased
Irvine, Reed John, economist, appointment on temporary
basis and salary approved
Jaffy, Florence I., service as technical adviser at
Hearings in Paris for ECA approved
Katz, Samuel I., economist, trip to London to study
domestic financial situation, advice re
expenses
Salary increased
Salary increased
Lichtenberg, Caroline, economist, salary increased
Malia, Anne, secretary, leave of absence without pay
approved
Resignation




10/3
3/9
11/2
8/1
12/21

2041
547
2201
1665
2483

1/9
3/26
10/17
3/2

83
668
2125
478

3/20
4/11

623
787

4/17

838

5/4
5/9

982
1002

7/9
/0
8 3
9/4

1509
1844
1858

6/6
2/16
9/11
7/25

1257
355
1918
1619

11/21

2293

5/10
2/20

1013
405

/0
8 3

1844

10/3

2042

7/20

1597

1/4
3/9
10/31
/9
62

31
547
2190
1461

1/17
6/18

138
1356

384
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
12/13
Marcus, Edward, economist, salary increased
1/11
W., Director, salary increased
Marget, Arthur
Board at annual meeting of Bank for
To represent
International Settlements in Basle,
5/14
Switzerland
and attendance at Annual General
Trip to Europe
Meeting of Bank for International Settle5/22
ments, letter of authorization
Report on trip to Europe, attendance at Annual
Meeting of Bank for International Settle8/14
ments and visits to central banks
11/15
Gold Policy of United States, memorandum on
12/20
Salary increased
1/17
Marlor, Marilyn, clerk, salary increased
5/7
Resignation
61
/4
Maroney, Mary M., economist, salary increased
McNeill, Eleanor W., clerk-stenographer, transfer from
Division of Selective Credit Regulation
12/17
and salary increase approved
Olson, Ernest C., economist, mission to Paraguay
3/20
approved
Proposed terms and conditions, advice to Sr. R.
3/22
Mendez Paiva, Minister of Finance
3/28
Advice re arrangements and travel expense
Conclusion of assignment in Paraguay and stopovers
6/12
en route to Washington approved
9/4
Report on Paraguayan mission
12/4
Salary increased
O'Shea, Nadia, clerk-stenographer, appointment on
10/24
temporary basis and salary approved
2/8
Parker, Harrison, economist, salary increased
7/13
Resignation
Perez, Anita Conchita, clerk-stenographer, appointment
2/2
on temporary basis and salary approved
10/3
Resignation
Power, John Henry, economist, appointment on temporary
4/26
basis and salary approved
-stenographer, appointment on
Roberts, Ann Marie, clerk
4/23
temporary basis and salary approved
2/2
assistant, salary increased
Smith, Nancy, research
Financial Operations and
Tamagna, Frank M., Chief,
2/20
Policy Section, salary increased
Assistant to Director, salary
Thorne, Wendell E.,
2/20
increased
Franc, secretary to Mr. Marget, salary
Valentine, Mrs.
1/26
increased
8/3
Salary increased
Vogenitz, Mrs. Betty Jane, clerk-typist, transfer to
Division of Bank Operations without change
2/16
in salary approved




2408

99
1041
1156
1735
2256
2470
138
984
1337
2431
623
643
690
1313
1858
2361
2153
272

1545
236
2041
896
873
237
405
405
200

1679
356

385
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
Ward, Thelma E., clerk, salary increased
Wright, Mrs. Dorothy V., clerk, salary increased
Salary increased
Division of Personnel Administration:
Allen, Dwight L.:
Assistant Director, appointment and salary approved
Leave of absence and expenses approved for attendance at Graduate School of Banking
Director, appointment and salary approved
Forfeited registration fee to be absorbed by Board
because of inability to attend 1951 session
of Graduate School of Banking
Designation as representative to Federal Personnel
Council
Salary increased
Ashford, Barbara, clerk, resignation
Ayers, June E., Administrative Assistant, salary increased
Petty cash tickets to be honored to cover cost of
entertaining Miss Joan Knight
Bissell, Alice, substitute nurse, appointment for five
days and compensation approved
Caldwell, Mrs. Myrtle B., clerk-stenographer, transfer
from Division of International Finance
and salary increase approved
Transfer to Division of International Finance and
salary increase approved
Clements, Sylvia I., secretary to Mr. Allen, salary
increased
Director, authorized to excuse members of staff for
parades, because of bad weather, etc., in
conformity with similar action in Government offices generally
Gena, clerk-stenographer, salary increased
Gander,
Secretary to Mr. Sprecher, salary increased
Hardesty, Edna B., substitute nurse, salary increased
to conform with general pay increase
Hart, Mrs. Elsie May, substitute maid, appointment on
temporary basis and salary approved
Salary increased to conform with general pay increase
Hilkert, Robert N., Acting Director, informal reception
approved before return to FRBank of
Philadelphia
Consultant, appointment and continuation of arrangement for reimbursement of FRBank of Philadelphia for salary and expenses approved,
requests for services to be subject to
approval of Personnel Committee




7/27

1638

2/15

349

3/23

654

1/8

70

/
27
4/17

268
836

/0
62

1381

12/21
12/20

2483
2470

2/14

339

2/28

462

10/16

2123

1/23

173

2/15

349

7/23

1603

8/10

1725

4/17
4/4
81
/0

836
724
1725

10/26

2166

2/19

379

10/26

2166

5/28

1207

6/5

1248

386
Pages
Staff of Board of Governors: (continued)
Division of Personnel Administration: (continued)
Hilkert, Robert N.: (continued)
Consultant, voucher to reimburse FRBank of Philadelphia for services and expenses during
two days in August approved
Mrs. Alice Cooper, clerk-typist, appointment on
Hook,
temporary basis and salary approved
Ruth L., maid, salary increased
Jarvis, Mrs.
Johnson, Herbert A., Personnel Officer, resignation
Latimer, Ann M., clerk-stenographer, salary increased
Resignation
Mayer, Louise, substitute nurse, appointment and compensation approved
Salary increased to conform with general pay increase
McMahon, Elizabeth A., personnel clerk, salary increased
Schuhle, Mrs. Marianne, leave clerk, resignation
Sprecher, H. Franklin, Jr.:
Assistant Director, appointment and salary approved,
per diem until establishment of local
residence and moving expenses to be paid
Designated as Fair Employment Officer
Designation as alternate representative to Federal
Personnel Council
Salary increased
Stuart, Marianne, leave clerk, salary increased
Vacancies, replacements needed for two major positions,
to be filled as soon as possible
Van Devanter, Rodney H., personnel technician, salary
increased
Administrative assistant, salary increased
Waller, Mrs. Lois L., clerk-stenographer, salary increased
Personnel clerk, salary increased
Wolverton, Margaret H., personnel clerk, salary increased
Mrs. Rubye M., clerk-typist, appointment on
Zacharay,
temporary basis and salary approved
Leave of absence without pay granted
Division of Research and Statistics:
Allen, Philip T., economist, salary increased
Altmann, Murray, economist, salary increased
Anderson, Paul S., economist, salary increased
Salary increased
Bevan, Elsie M., clerk-stenographer, transfer from
Division of Selective Credit Regulation
without change in salary approved
Resignation
Black, Mrs. Katherine G., clerk, extension of temporary
appointment and salary increase approved




9/14

1940

8/9
2/23
5/9
3/15
9/18

1719
429
1001
595
1961

1/26

201

10/26
5/4
12/14

2166
976
2424

5/28
8/3

1194
1681

12/21
12/20
5/3

2484
2471
971

4/17

837

1/5
2/28

62
462

2/23
5/4

429
976

5/4

976

2/13
11/6

333
2208

11/2
1/26
9/13
10/12

2200
202
1929
2092

3/8
9/13

525
1928

10/16

2115

387
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Boylan, Eleanor M., editorial clerk, salary increased
Breckenridge, Mrs. Charlotte T., clerk, appointment on
temporary basis and salary approved for
one year
Brill, Daniel H., economist, salary increased
Salary increased
Broida, Arthur L., economist, salary increased
Bruderer, Doris, clerk-stenographer, salary increased
Burgess, Caroline M., librarian, salary increased
Burr, Susan S., Assistant Director, appointment and
salary approved
Salary increased
Cagle, Mrs. Caroline H., economist, salary increased
Calkins, Robert DeB., consultant for Patman questionnaire, appointment, compensation, and
travel expenses approved
Capps, Marjorie C., clerk-stenographer, salary increased
Salary increased
Carroll, Mrs. Mary R., clerk, appointment on temporary
basis and salary approved
Cheadle, Harold L., economist, salary increased
Cody, Peter M., economist, salary increased
Conrad, Alfred H., economist, extension of leave without pay approved
Resignation
Consultants for Patman subcommittee questionnaire,
appointment of not more than 10, including
one political scientist, and compensation
approved
Copeland, Morris A., consultant, reemployment, compensation, and travel expenses approved
Cornish, Rose, clerk-typist, salary increased
Clerk, designation and salary increase approved
Cox, Professor Reavis, appointment as consultant for
work on consumer credit series revision,
compensation, and travel expenses approved
Crawley, Mrs. June E., clerk, salary increased
Culbertson, John M., economist, salary increased
Salary increased
Davis, GladysM., draftsman, appointment on temporary
basis and salary approved
Dingle, Mona E., economist, salary increased
Donohoe, Mrs. Mary M., clerk-typist, resignation
Dougherty, Mrs. Anne D., clerk, transfer from Division
of Bank Operations without change in salary
approved
Driver, Reba C., clerk, salary increased
Duarte, Genevieve G., clerk, salary increased
Resignation




12/20

2474

9/28
5/28
7/27
12 2
/0
5/24
2/14

2026
1196
1639
2474
1176
338

1/11
12/20
3/2

98
2470
477

10/19

2140

/9
61
8/2

1373
1669

5/15
12/20
9/26

1084
2474
2006

4/11
11/1

777
2195

10/15

2103

/
6 15
3/19
6/29

1347
613
1461

10/26
2/28
61
/9
7/31

2173
463
1373
1659

/
2 5
9/14
5/29

1933

12/14
6/5
2/8
4/26

2423
1250
272
896

247
1209

388
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Dunn, LeRoy, research assistant, salary increased
Resignation
Edelson, Sylvia L., economist, salary increased
Salary increased
Ellis, Margaret, executive assistant, salary increased
Fadeley, Marian E., clerk, salary increased
Fisher, Charles T., Jr., special consultant, present
at Board meeting
Fletcher, Pauline Jane, clerk, appointment on temporary basis for twelve months and salary
approved
Fort, Donald, economist, resignation
Fox, Charles E., Jr., economist, salary increased
Frechtling, John, economist, salary increased
Freedman, Bernard N., economist, salary increased
Freedman, Loretta, clerk, salary increased
Garfield, Frank R., Adviser, on Economic Research, salary
increased
To receive travel expenses applicable to assist head
of division
Memo on Regulation X and related FHA and VA regulations, comments on
Authorized to sign reports, vouchers, etc., in
absence of Director or disability of
Assistant Directors
Salary increased
Gehman, Clayton, Chief of Business Conditions Section,
salary increased
Geigenmueller, Gretchen, clerk-stenographer, salary
increased
Glass, Jennie L., clerk, salary increased
Goldenweiser, E. A., consultant for Patman questionnaire, appointment, compensation, and
travel expenses approved
Graham, Mrs. Dorothy S., clerk-typist, appointment on
temporary basis and salary approved
Griggs, Mrs. Betty H., clerk-stenographer, resignation
Grunwell, Helen R., chief draftsman, salary increased
Haring, Professor Albert, consultant, appointment for
work on consumer credit series revision,
compensation, and travel expenses approved
Harrington, Mary Jane, economist, salary increased
Harris, Elinor R., economist, salary increased
Hempstead, Mrs. Evelyn L., secretary to Mr. Garfield,
salary increased
Hickman, Billie Jo, clerk-typist, appointment on
temporary basis and salary approved
Hodge, Verna L., librarian, salary increased




2/14
5/29
3/28
4/26
9/27
10/3

338
1208
690
895
2016
2042

12/4

2336

7/10
11/1
3/20
6/5
2/19
5/24

1518
2195
627
1250
379
1175

1/11

99

2/2

245

4/17

816

8/22
12/20

1794
2470

1/26

202

10/12
9/26

2092
2006

10/19

2140

10/10
9/20
3/12

2083
1978
565

10/26
2/8
3/2

2173
272
477

7/6

1504

8/13
2/14

1731
338

389
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Hodson, Mrs. Viola A., clerk, application for retirement noted
Holthausen, Duncan M., consultant, work on consumer
credit series revision approved
Hurley, Mrs. Evelyn H., clerk, appointment on temporary basis and salary approved
Jeffries, Vendel 0., messenger, salary increased
Johnson, Alfred P., research assistant, transfer from
Secretary's 0ffice without change in
salary approved
Salary increased
Johnson, Elsie N., clerk-typist, appointment on temporary basis and salary approved
Resignation
Johnson, Mrs. Patricia V., secretary to Mr. Williams,
salary increased
Jones, Homer, Chief of Consumer Credit and Finances
Section, salary increased
Granted official leave to attend National Conference
on Income and Wealth
Jones, Mrs. Monica F., clerk, salary increased
Kelly, Mrs. Nancy B., clerk-stenographer, appointment
on temporary basis and salary approved
Klaman, Saul B., economist, salary increased
Koch, Albert R., Chief, Banking Section, to participate
in Puerto Rican mission
Authorization for trip and expenses
Latham, Joyce E., clerk, resignation
Leach, Ralph F., economist, salary increased
Leaman, Virginia E., clerk-stenographer, salary increased
Lindholm, Richard W., economist, resignation
Logee, Margaret Anne, clerk, appointment on temporary
basis and salary approved
Long, Janet E., clerk, appointment on temporary basis
and salary approved
Lone, James H., economist, extension of temporary
appointment without change in salary
Status to be changed from employee to consultant
since receiving remuneration from University of Chicago
Lupton, Helen A., Asst. Chief Draftsman, salary increased
MacLean, Mrs. Lucile R., librarian, salary increased
McCormick, Mary P., draftsman-illustrator, salary increased
McTeer, Doris, clerk-stenographer, salary increased
Merritt, Mrs. Audrey R., draftsman, resignation
Mickelsen, Patricia A., statistical assistant, salary
increased




12/12

2397

10/26

2174

8/27
11/26

1822
2301

7/11
9/26

1526
2006

61
/4
8/20

1338
1777

2/19

378

2/12

321

9/11
3/16

1918
605

11 5
/
1/26

2204
201

9/17
10/18
3/23
7/27

1945
2135
654
1639

9/26
5/29

2006
1208

8/31

1848

3/9

548

3/2

476

12/18

2442

3/12
4/27

565
900

3/12
7/5
2/1

565
1501
230

3/2

477

390
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Millea, Gerald F., Administrative Assistant, salary
6/7
increased
Miller, Donald C., economist, appointment on temporary
4/11
basis and salary approved
4/11
Miller, Mary F., clerk, salary increased
9/26
Moore, A. Jane, economist, salary increased
/4
5 2
Morelle,Wilellyn, economist, salary increased
Morrill, Chester, special consultant to assist with
Patman questionnaire, per diem compensa11/19
tion approved
6/5
Morse, M. Elva, clerk, salary increased
5/9
Moss, Milton, economist, salary increased
10/12
Moss, Robert R., economist, salary increased
Nelson, Elsie T., statistical assistant, salary in7/6
creased
on tempoNotter, Mrs. Margaret T., clerk, appointment
5/25
rary basis and salary approved
Parry, Carl E., consultant for Patman questionnaire,
appointment, compensation, and travel
10/19
expenses approved
transfer to Division of
Powers, 'William J., economist,
Selective Credit Regulation as analyst
1/3
and salary increase approved
economist, appointment on
Projector, Dorothy South,
nonpermanent basis and salary recommended,
matter to be discussed further with Chair7/31
man Martin
10/9
temporary basis and salary approved
Appointment on
10/10
Offutt, Mary G., clerk, resignation
Virginia J., clerk-stenographer, salary inOgilvie,
1/26
creased
3/19
Racz, Winofred J., clerk, salary increased
6/26
Radicevic, Katherine, clerk, resignation
Reeves, Mrs. Dorothy D., secretary to Mr. Young, salary
1/19
increased
Reierson, Roy L., consultant, employment, compensation,
and travel expenses approved, receipt of
8/23
compensation to be waived
Certification re appointment sent to Federal
9/5
Register
Robinson, Roland I., consultant to assist with work on
Voluntary Credit Restraint Program, appointment, compensation, and travel expenses
5/29
approved
2/14
Ryhal, Rita I., Clerk, salary increased
11/8
Salary increased
Sanders, Mrs. Joan K., clerk, appointment on temporary
12/14
basis and salary approved




1273
777
777
2006
1176

2271
1250
1001
2092
1504
1184

2140

17

1658
2077
2083
201
613
1427
149

1804
1868

1210
338
2215
2422

391
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Saulnier, R. J., consultant for Patman questionnaire,
appointment, compensation, and travel
expenses approved
Appointment for work on consumer credit series
revision, compensation, and travel expenses approved
Saunders, Mrs. Laura Gilman, economist, resignation
Schmidt, Charles H., Chief, Business Finance and Capital Markets Section, salary increased
Memo on recent developments in stock market
Schultz, T. W., consultant for Patman questionnaire,
appointment, compensation, and travel
expenses approved
Schwartz, Maurice H., economist, appointment on temporary basis and salary approved
Schweiger, Irving, economist, salary increased
Salary increased after discussion of need for number of promotions
Granted official leave to attend National Conference on Income and Wealth
Sencindiver, Mrs. Anne Campbell, draftsman, appointment
on temporary basis for nine months and
salary approved
Sette, Mrs. Elizabeth B., economist, salary increased
Sigel, Stanley J., economist, salary increased
Salary increased after discussion of need for number of promotions
Small, Vera F., clerk-typist, appointment on temporary
basis and salary approved
Smith, Howard G., economist, transfer from Division of
Bank Operations and salary increase
approved
Smith, Jesse D., messenger, salary increased
Clerk-messenger, salary increased
Smith, Paul F., economist, transfer from Division of
Bank Operations without change in salary
approved
Smith, Tynan, economist, salary increased
Smith, Winfield S., economist, salary increased
Steidel, Lois I., clerk, salary increased
Stewart, Walter W., consultant for Pathan questionnaire,
appointment, compensation, and travel expenses approved
Swindlehurst, Alice, clerk, salary increased
Swindler, Edwin J., economist, salary increased
Sylvester, Orlena Ruth, clerk, resignation
Taylor, Alice M., clerk, salary increased
Thompson, Orville K., economist, salary increased




10/19

2140

10/26
2/12

2174
322

8/21
9/27

1786
2015

10/19

2140

1/19
2/28

150
462

3/27

678

9/11

1918

12/7
11/1
2/28

2334
2196
462

3/27

678

3/9

543

3/20
2/8
6/19

627
272
1373

10/1
12/10
11/8
6/19

2031
2392
2215
1373

10/19
6/5
12/20
8/31
12/14
5/24

2139
1250
2474
1848
2423
1175

392
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Toothman, Doris June, clerk-typist, appointment on
7/13
temporary basis and salary approved
11/26
Elva H., library assistant, salary increased
Townsend,
6/19
Trescott, Charles, library assistant, salary increased
3/2
Lorman, economist, salary increased
Trueblood,
assignment with National Production AuthorSpecial
7/12
ity approved
6/5
A., clerk-stenographer, resignation
Truitt, June
Tyson, Elizabeth Nell, library assistant, appointment
3/8
on temporary basis and salary approved
Vincent, Helen M., clerk, application for retirement
1/24
noted
Viner, Jacob, consultant for Patman questionnaire,
appointment, compensation, and travel ex10/19
penses approved
Walsh, Kathryn Ann, clerk-typist, appointment on
6/14
temporary basis and salary approved
9/13
Resignation
Ware, Mrs. Nancy W., clerk-typist, transfer from Division of Bank Operations without change in
2/26
salary approved
3/19
Salary increased
Watson, Callie Lavon, clerk, appointment on temporary
7/10
basis and salary approved
/9
61
Watts, Bruna L., draftsman, salary increased
8/2
Salary increased
Weaver, Mrs. Mary F., clerk, maternity leave, granted
permission to continue on duty beyond time
2/8
specified in regulations
8/3
Leave without pay approved
Reemployment upon return from maternity leave
/
8 31
approved
7/5
salary increased
Webster, Philip M., economist,
9/5
Salary increased
National Income, Money
Weiner, Louis, Acting Chief of
7/27
flows, and Labor Section, salary increased
attend National ConferGranted official leave to
9/11
ence on Income and Wealth
economist, appointment on temporary
Wendel, Helmut F.,
4/26
basis and salary approved
3/2
economist, salary increased
Wernick, Murray S.,
10/4
Resignation
1/11
Williams, Mrs. Alice R., clerk, salary increased
6/26
Resignation
Assistant Director, appointment
Williams, Kenneth B.,
1/11
and salary approved
discuss business situation at Central Banking
To
8/22
Seminar at FRBank of San Francisco
12/20
Salary increased




1546
2301
1373
478
1541
1250
526
180

2140
1338
1928

437
613
1518
1373
1669

273
1680
1849
1501
1865
1639
1918
897
478
2064
107
1427
98
1795
2470

393
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Wilmerding, Lucius, consultant for Patman questionnaire,
appointment, compensation, and travel expenses approved
Wood, Ramsay, economist, salary increased
Registration statement under Regulation X, questions on editing to be taken up with
Wynne, Dorothy R., clerk, appointment on temporary
basis and salary approved
Joan N., clerk, salary increased
Yamamoto,
Young, Ralph A., Director:
Credit, study of prospective demands and supply
recommended by FAC, memo re
Meeting of representatives of Council of Economic
Advisers, Bureau of the Budget, and Treasury to discuss Government expenditures
attended by
Regulations W and X, memo on administration by
FRSystem
Report on developments in stock market and review
of consumer credit developments
Report on legislation to increase reserve requirements to be submitted by task force subcommittee, statement on
Report of task force committee on authority over
bank reserve requirements distributed
Report on stock market developments
Reserve requirements, second draft of report re,
meeting of representative Reserve Bank
economists to be arranged for discussion
of alternative reserve plans
Reserve requirements, memo on draft bill
Salary increased
Youngdahl, C. Richard, report on Government securities
market

10/19
1/26

2140
202

6/1

1231

7/12
12/10

1541
2392

5/15

1068

12/4

2340

12/4

2339

4/17

820

3/15

594

3/20
5/1

618
936

3/27
5/23
1/11

681
1164
99

5/22
7/10
81
/4
9/4
11/27
12/27

1150
1517
1735
1854
2306
2492

Division of Selective Credit Regulation:
Benjamin, Georgiana, clerk-typist, appointment on
4/2
temporary basis and salary approved
6/22
Resignation
appointment and
Benner, Henry, Assistant Director,
2/14
salary approved
of Board Plan, requireRetirement system, election
ment of filing notice within 30 days after
6/12
joining staff waived
12 2
/0
Salary increased




713
1399

339
1314
2471

394
Pages
Staff of Board of Governors: (continued)
Division of Selective Credit Regulation: (continued)
Bevan, Elsie M., clerk-stenographer, transfer to Division of Research and Statistics without
change in salary approved
Boothe, Gardner L., II, Assistant Director:
Applications filed for defense loans, review of
Report on status of V-loan program
Salary increased
To discuss practice re subcontracts with Administrator of Small Defense Plants Administration
Connell, J. J., technical assistant, salary increased
Eaton, Marjorie, secretary to Mr. Heath, salary increased
Transfer to Secretary's Office approved
Fauver, Clarke L., Assistant, transfer with temporary
designation and salary approved, appointment as Assistant Director upon return
of Mr. Heath to FRBank of Chicago approved
but to be brought to attention of Board
again before effective date
Report on consumer credit regulations in Canada
Appointment as Assistant Director to become effective upon termination of services of Mr.
Heath and salary increased
Transfer to Board Member' Offices as assistant to
Mr. Thurston and salary approved
Robert P., analyst, transfer from Division of
Fuhrer,
Bank Operations and salary increase
approved
Heath, E. A., Acting Assistant Director, designation
for remainder of assignment at Board
approved
Consumer credit controls in Canada, to report on
Report on consumer credit regulations in Canada
Extension of assignment for 20 days requested
Services to terminate on July 20
Hug, Adele, secretary to Mr. Benner, resignation
Resignation rescinded and reinstatement in former
position approved
Salary increased
Jones, Oliver Hastings, Jr., analyst, appointment on
temporary basis and salary approved
Mayer, Marlene, clerk-typist, appointment on temporary
basis and salary approved
Extension of temporary appointment without change
in salary approved
McNeill, Eleanor W., clerk-stenographer, salary increased
Transfer to Division of International Finance and
salary increase approved




3/8

525

5/22
5/1
12/20

1151
936
2471

11/20
3/26

2291
668

3/29
7/12

703
1539

3/29
4/24

700
883

7/12

1537

12/18

2442

1/3

17

3/9
4/17
4/24
6/25
7/12
9/11

547
820
883
1410
1538
1916

9/13
10/24

1929
2150

7/5

1501

6/13

1322

12/20

2475

11/16

2266

12/17

2431

395
Pages
Staff of Board of Governors: (continued)
Division of Selective Credit Regulation: (continued)
Morris, Ruth E., secretary to Mr. Fauver, transfer from
office of Mr. Szymczak approved
increased
Salary
Moye, Lois Marilyn, clerk-stenographer, appointment on
temporary basis and salary approved
Resignation
Noyes, Guy E., Director, appointment and salary increase
approved
increased
Salary
Report on consumer and real estate credit
Report on consumer credit developments
Statement re effect of S. 1717 and H.R. 3871 on consumer and real estate credit
Regulations W and X, memo on administration by
FRSystem
Salary increased
Perrin, Anita Ewens, clerk-stenographer, appointment on
temporary basis and salary approved
Phelan, Arthur, Acting Director, payment to FRBank of
New York for services during November 1950
approved
Extension of leave for work, advice to FRBank of
New York re need for
To testify before subcommittee of House Judiciary
Committee on Study of Monopoly Power re
fees in connection with V-loans
Plaugher, Betty J., stenographer, transfer from Division of Examinations without change in
salary approved
Resignation
Resignation rescinded
Salary increased
Powers, William J., analyst, transfer from Division of
Research and Statistics and salary increase approved
Stone, Mrs. Ruth D., secretary to Mr. Noyes, salary
increased
Swan, Eliot, Acting Assistant Director, services for
about six months to be made available to
Board, FRBank of San Francisco to be
reimbursed for salary and expenses
Advice to FRBank of San Francisco re service and
expenses for six-month period
Temple, Mrs. Anne S., administrative clerk, salary increased
Thalley, William Lucius, messenger, salary increased
Salary increased
Veenstra, Theodore A., Jr., analyst, transfer from Division of Bank Operations without change in
salary approved




7/19
11/16

1588
2266

5/29
8/20

1209
1777

3/1
1/11
5/1
5/22

471
99
935
1151

6/26

1419

12/4
12/20

2339
2470

6/21

1385

1/22

156

1/29

209

2/8

269

5/25
6/11
/9
61
11/2

1/3

1184
1275
1374
2200

17

3/29

703

12/18

2442

12/26

2485

5/16
5/16
11/16

1090
1090
2266

1/3

17

396
Pages
Staff of Board of Governors: (continued)
Division of Selective Credit Regulation: (continued)
Veenstra, Theodore A., analyst: (continued)
Salary increased
Salary increased
Vidal, Claudia, clerk-stenographer, resignation
Wilde, Frazar B., consultant, appointment, compensation
and travel expenses approved
Wolfe, Mrs. Margaret L., secretary to Mr. Boothe, transfer from Division of Administrative Services without change in salary approved
Salary increased
Salary increased
Elevator operators:
Lewis, Evelyn.M., salary increased
Long, Thelma Mae, appointment on temporary basis and
salary approved
Extension of temporary appointment without change
in salary approved
Marino, Mrs. Ann Marie, appointment on temporary basis
and salary approved
Mock, Fannie L., salary increased
Murphy, Mary F., salary increased
Transfer to position of clerk and salary increase
approved
Employments for nonprofessional positions in Group M or
below, procedure approved to eliminate
clearance with Board member whose assignments include functions affected
Fair employment practices, revised statement approved
Guards:
Becker, William F., salary increased
Craft, Robert H., salary increased
Florea, Hiram H., salary increased
Hyde, William, sergeant, salary increased
Roush, Hiram J., salary increased
Shaker, Richard, salary increased
Hours of work:
Director of Division of Personnel Administration
authorized to excuse from work for parades,
because of bad weather, etc.
December 24 and 31, 1951, to be holidays, but time to be
made up on Saturdays, December 29, 1951,
and January 5, 1952.
Maids:
Hart, Elsie Mae, substitute, salary increased to conform with general pay increase
Substitutes, budget increased to provide for payments
for
Messengers:
Bates, Henry A., appointment made permanent without
change in salary




5/23
11/26
2/14
1/2

1171
2301
338

6

1/9
4/6
9/25

84
745
2000

3/7

506

7/17

1562

10/18

2131

7/12
12/27
1 2
/4

1540
2500
179

/
7 5

1502

3/27
9/18

676
1962

6/4
4/4
8/21
7/5
7/5
12/27

1233
724
1786
1501
1501
2500

4/17

836

12/12

2407

10/26

2166

9/14

1941

/1
62

1385

397
Pages
Staff of Board of Governors: (continued)
Messengers: (continued)
Bates, Henry A.: (continued)
Salary increased
Branic, Otto H., (Chairman), salary increased to conform to general pay increase
Brown, Fletcher E., salary increased to conform with
general pay increase
Carey, Charles V., transfer from Division of Administrative Services and salary increase
approved
Frost, Fredrick L., salary increased
Salary increased to conform with general pay increase
Hamilton, James F., salary increased
Salary increased to conform with general pay increase
Hardy, William E., salary increased
Salary increased
Hart, Bishop, salary increased to conform with general
pay increase
Jamison, Michael L., salary increased
Salary increased to conform with general pay increase
Jeffries, Vendel O., salary increased
McAfee, John Carl, appointment on temporary basis and
salary approved
Smith, Jesse D., salary increased
Clerk-messenger, salary increased
Thalley, William Lucius, salary increased
Salary increased
Nurses:
Bissell, Alice, substitute, appointment for five days
and compensation approved
Hardesty, Edna B., substitute nurse, salary increased
to conform with general pay increase
Mayer, Louise, substitute, appointment and compensation
approved
Salary increased to conform with general pay increase
Substitutes, budget increased to provide for payments
for
Office of Chairman:
Chupka, Catherine T., secretary, appointment and salary
approved
Salary increased to conform with general pay increase
Office of Mr. Eccles:
Egbert, Va Lois, secretary, to be continued on pay roll
after resignation of Mr. Eccles until completion of work on files




12/13

2408

10/26

2165

10/26

2165

2/8
10/24

272
2150

10/26
2/23

2165
429

10/26
2/16
9/11

2165
1918

10/26
2/21

2165
423

10/26
11/26

2165
2301

1/11
2/8
6/19
5/16
11/16

107
272
1373
1090
2266

1/23

173

10/26

2166

1/26

201

10/26

2166

9/14

1941

355

4/5

736

10/26

2164

/9
61

1372

398
Pages
Staff of Board of Governors: (continued)
Office of Mr. Eccles: (continued)
Egbert, Va Lois, secretary: (continued)
Salary increased to conform with general pay increase
To retain office in FRBuilding in December to
complete work, salary to terminate on
November 30
Resignation
Saunders, Dorothy L., stenographer, transfer to Division of Administrative Services and
salary increase approved
Mr. Evans:
Office of
Hamilton, James F., messenger, salary increased
Westman, Elsie M., secretary, salary increased to
conform with general pay increase
Office of Mr. Norton:
Cotten, Anne I., secretary, salary increased to conform
with general pay increase
Office of Mr. Powell:
Hurst, Mrs. Dorothy S., stenographer, transfer from
Division of Administrative Services and
salary increase approved
Salary increased to conform with general pay increase
Jamison, Michael L., messenger, salary increased
Reierson, Roy L., special consultant, press statement
re appointment
Wolcott, Helen B., secretary, salary increased to
conform with general pay increase
Salary increased
Office of Mr. Szymczak:
Frost, Fredrick L., messenger, salary increased
Morris, Ruth E., stenographer, transfer to Division of
Selective Credit Regulation as secretary
to Mr. Fauver approved
Wade, Earle J., secretary, salary increased
Salary increased to conform with general pay increase
Office of Mr. Vardaman:
Abell, Doris I., stenographer, transfer from Division
of Administrative Services with no change
in salary approved
Salary increased to conform with general pay increase
Hoffman, Dorothy B., secretary, salary increased to
conform with general pay increase
Pages:
Bailey, Etta M., appointment on temporary basis and
salary approved




10/26

2164

11/30
12/14

2327
2424

10/18

2131

2/23

429

10/26

2165

10/26

2164

6/20

1379

10/26
2/21

2165
423

9/10

1900

10/26
11/1

2165
2196

10/24

2150

7/19
3/16

1588
605

10/26

2165

9/26

2006

10/26

2165

10/26

2165

10/30

2185

399
Pages
Staff of Board of Governors: (continued)
Pages: (continued)
Chism, Alvina Idamay, appointment on temporary basis
and salary approved
Collison, Mrs. Bessie A., resignation
Fink, Martha Jane, appointment on temporary basis and
salary approved
Hanlon, Noreen R., transfer to Division of International
Finance as clerk and salary increase
approved
Margaret, salary increased
Henn,
Resignation
Hughes, Lillian F., appointment on temporary basis and
salary approved
Mull, Lura Jean, appointment on temporary basis and
salary approved
Robinson, Katherine, appointment on temporary basis and
salary approved
Resignation .
Rollins, Mrs. Patricia A., resignation
Thompson, Janet, resignation
Personnel employed under Defense Production Act of 1950 and
Executive Order No. 10161, statement for
Federal Register
Reclassification to higher grade, procedure for immediate
salary adjustment approved
Reclassifications and employments for nonprofessional positions in Group M or below, procedure
approved to eliminate clearance with Board
member whose assignments include function
affected
Relatives, policy re appointment to be continued, but rule
to be set aside whenever circumstances
warrant
Salaries:
General pay increase approved to conform with S. 622,
after discussion of legality of retroactive provision
Longevity increases, amendment to rules to provide for
crediting of any excess service toward
next step increase approved
Lower grades, increase, Personnel Committee to make
recommendation after completion of study
increases approved
Official,
Procedure for appointments and increases approved
Secretary's Office:
Agadjanian, Mrs. Portia R., file clerk, salary increased
Bates, Cornelia A., Superwisor, Non-Current Records and
Records Disposal, salary increased
Adaline R., Review Classifier, Admin. Subject
Beeson,
Files, salary increased




/1
61
/3
82

1276
1804

/8
61

1355

6/6
7/5
8 2
/3

1257
1501
1804

9/27

2017

9/13

1929

5/29
9/5
10/5
5/10

1209
1864
2070
1014

1/12

112

3/13

577

3/27

676

61
/4

1340

10/26

2161

5/16

1101

12/20
12/20
/
6 12

2473
2469
1302

10/12

2093

7/20

1597

7/20

1597

400
Pages
Staff of Board of Governors: (continued)
Secretary's Office: (continued)
11/28
Brennan, John C., General Assistant, salary increased
to be designated as
6/12
Budget Officer, Assistant Secretary
tempoBurke, Marian E., clerk-typist, appointment on
5/16
rary basis and salary approved
9/10
Salary increased
Carpenter, S. R., Secretary:
Legislation to be proposed to Congress, requested to
1/2
submit suggestions
Protective measures for FRBuilding in event of air
raid warning, memo approved, copy to be
6/4
sent to each employee
1/11
Salary increased
5/17
salary increased
Coe, Madison P., Senior Index Clerk,
/0
83
salary increased
Cook, Mrs. Helen E., file clerk,
2/16
clerk, salary increased
Derr, Mrs. Marion H., records
Devlin, Jeanette Elizabeth, file clerk, salary increased 8/30
Dippre, Doreen, secretary to Mr. Kenyon, salary increased 10/16
Dougherty, Margaret J., clerk, appointment made permanent
6/7
and salary increased
Mr. Sherman, transfer from
Eaton, Marjorie, secretary to
Division of Selective Credit Regulation
7/12
approved
/0
8 3
clerk, salary increased
Farrington, Mrs. Pearl F., file
International Finance as
Transfer to Division of
12/13
clerk with no change in salary approved
2/16
Franta, Mrs. Ruth W., file clerk, salary increased
10/12
Salary increased
5/9
Godard, Alice C., clerk-stenographer, resignation
Goepfert, Mabel, secretary to Mr. Carpenter, salary
9/26
increased
Hadley, secretary to Mr. Murff,
Goodyear, Mrs. Ruth
4/26
transfer and salary increase approved
C., clerk-typist, transfer to Counsel's
Harrison, Eugene
Office without change in salary and ex1/3
tension of appointment approved
Huey, Barbara Anne, clerk-typist, appointment on tempo1/8
rary basis and salary approved
/
6 13
Appointment extended and salary increased
9/10
Minutes clerk, salary increased
Hunter, Beatrice, Assistant Chief, Files Section,
2/16
salary increased
7/20
Salary increased
Johnson, Alfred P., secretary to Mr. Sherman, appointment made permanent without change in
4/9
salary
Transfer to Division of Research and Statistics
7/11
without change in salary approved
Jones, Elizabeth M., Assistant Supervisor, Admin.,
7/20
Subject and FOMC Files, salary increased




2312
1303
1090
1898

5

1240
99
1104
1843
356
1843
2115
1272

1539
1843
2408
356
2093
1001
2006
895

18
69
1323
1898
356
1597

747
1526
1597

401
Pages
Staff of Board of Governors: (continued)
Secretary's Office: (continued)
Kenyon, Kenneth A., Assistant Secretary, salary in1/11
creased
12/20
Salary increased
8/30
Kidd, Marjorie, file clerk, salary increased
5/2
Larson, Mrs. Hazel L., file clerk, resignation
10/12
McIntosh, Mary L., file clerk, salary increased
10/18
Resignation
10/12
Patricia, file clerk, salary increased
McShane, M.
/0
83
Moister, Mrs. Margaret J., file clerk, salary increased
R., Assistant Secretary, transfer from
Murff, Gordon
Division of Examinations and salary
2/6
approved
Travel expenses for trip from Dallas, Texas, to
2/27
Washington, D. C., approved
12/20
Salary increased
2/16
O'Connor, Kathleen J., file clerk, salary increased
10/12
Records clerk, salary increased
Pilger, Mildred E., Supervisor, Admin., Subject and
7/20
FOMC Files, salary increased
Authorized to train employee at FRBank of Atlanta
11/6
re filing system
Extension of assignment at FRBank of Atlanta and
12/12
expenses approved
Poeppel, Edna B., Chief of Files Section, authorized
to go to Atlanta Bank to review filing
6/29
system
8/14
Salary increased
Secretary or Assistant Secretary, authorization to
certify forms in connection with requests
for preferential treatment for telephone
11/8
service
Semia, Mrs. Jeanne Krieger, General Assistant, salary
10/12
increased
clerk, appointment on
Shadwell, Elizabeth Anne, file
8/22
temporary basis and salary approved
/
1 11
Secretary, salary increased
Sherman, Merritt, Assistant
of Board of Governors-To discuss "Organization
Methods of Operation" and "Publications,TeachAids" at Central Banking Seminar
ing
8/22
at FRBank of San Francisco
12/20
Salary increased
/0
8 3
Smith, Mrs. Frances B., file clerk, salary increased
clerk, appointment on tempoStafford, Betsy Ann, file
10/4
rary basis and salary approved
Stockwell, Mrs. Jean F., file clerk, appointment made
permanent
V/3g
al
Salary increased
clerk, salary increased
10/12
Van Wagner, Elizabeth E., file
10/18
Resignation




99
2470

1843
952
2093
2131

2093
1843

260
461
2470
356
2093

1597
2209
2398

1461
1748

2221
2093
1794

99

1795
2470
1843
21;664;

2093
2131

402
Pages
Staff of Board of Governors: (continued)
Secretary's Office: (continued)
Velebir, Mrs. Frances A., records clerk, resignation
Whitaker, Mrs. Ella D., file clerk, salary increased
Resignation
Ake, Mabel E., file clerk, salary increased
Yates, Mrs. Aline L., index clerk, salary increased
Security risks, reply to letter from Department of Justice
on procedures re employment, etc._
Solicitor's Office:
Chase, G. Howland, Assistant Solicitor:
Designation to take testimony in investigation of
Roy's Appliance Company
Designation to take testimony in investigation of
A. Harris Motor Sales
Designation to take testimony in investigation of
Bogda Motor Company, Inc.
Salary increased
Salary increased
Diane, Mrs. Wilma R., clerk-typist, appointment on
temporary basis and salary approved
Increase to handle Regulation W enforcement program,
statement of Mr. Townsend re possible
need for
O'Keefe, Gregory, Jr., work to include Regulations W
and X, adjustment in per diem and travel
expenses approved
Temple, Joan A., typist, salary increased
Resignation
Townsend, J. Leonard:
Leasing arrangements under Regulation W, difference
of opinion with Legal Division re, memorandum to be prepared
Legislation to be proposed to Congress, requested
to submit suggestions
Opposition to amendment to Regulation W re leasing
arrangements, brief not to be prepared
because of Transamerica work
Salary increased
Travel expenses approved for trip to San Francisco
for completion of records in Transamerica
case
Work on Transamerica case to take precedence over
Regulation W enforcement matters
Transamerica proceeding, travel expenses approved
for trip to San Francisco
Regulation W enforcement program, comments on
methods
H. Bartels, Inc., Regulation W violations, case
presented by
Regulation W enforcement procedure, letter to Department of Justice and reply




4/19
2/16
4/26
/0
83
4/13

858
356
896
1843
804

9/4

1861

1/25

184

13
/0

213

1/30
/
1 11
12 2
/0

215
99
2470

11/29

2323

5/10

1007

5/31
9/28
11/21

1224
2025
2293

2/15

346

1/2

2/21
/
1 11

1/3

5

417
99

26

2/21

417

4/10

755

5/10

1007

7/31

1653

/4
8 1

1741

403
Pages
Staff of Board of Governors: (continued)
Solicitor's Office: (continued)
Townsend, J. Leonard: (continued)
Enforcement program of Regulation W, memorandum
being prepared on
12/27
10/8
Stenographic and typing classes for, organization approved
Telegraph operators:
8/21
Ball, L. L., Asst. Supervisor, salary increased
Buckley, Thomas N., to be reemployed after military
service if desired, but extension of six
12/6
months duty not approved
8/21
Cooley, L. H., salary increased
8/21
Flagg, M. P., salary increased
2/8
Kushner, Howard W., salary increased
7/31
Resignation
8/21
March, G. L., salary increased
8/21
Ott, H. M., Supervisor, salary increased
Letter of commendation for efficient work of office
12/20
to be sent to
8/21
Pool, W. S., salary increased
11/2
Yates, Burlon F., salary increased
Telephone operators:
4/19
Johnson, Mary E., salary increased
1 2
/4
Weikel, Mary A., salary increased
Training program for personnel, discussion, Personnel Com10/15
mittee to study and make recommendation
Standard Oil Company, Chicago, Ill., Regulation X, application
6/12
to proposed leasing arrangement
Standard Stores, Inc., Regulation W, leasing plan subject to,
2/9
advice to FRBank of Dallas
State bankers associations, delegations to be invited to
luncheon by Board during visits to
1/9
Washington
State Department:
Rice, Morgan H., services in connection with Pakistan,
arrangement to be approved for one year,
9/20
advice to Mr. Bennett
State member banks:
American Trust Company, San Francisco, Calif.:
Extension of time to establish branch at Twelfth and K
1/19
Streets, Modesto, Calif., approved
Granted extension of time to establish branch at
Twelfth and K Streets, Modesto, Calif.
4/13
Anthony State Bank, Anthony, Texas:
Application for membership approved subject to condition re paid-up and unimpaired capital
stock, additional powers not to be exer9/11
cised without permission of Board
Granted extension of time to accomplish membership in
9/28
FRSystam
11/26
Certification to FDIC as member of FRSystem




2493
2074
1786

2376
1786
1786
272
1659
1786
1786
2473
1786
2201
858
179
2107
1319
319

78

1976

153
805

1920
2027
2303

404
Pages
State member banks: (continued)
B.M.C. Durfee Trust Company, Fall River, Mass., reduction
in capital stock approved
Bank of Babylon, New York, application for continuance of
insurance after withdrawal from membership in FRSystem, advice to FDIC
Six months notice waived and immediate withdrawal from
membership approved
Bank of Hammondsport, N. Y., absorption by Lincoln Rochester
Trust Company, Rochester, N. Y., approved
Bank of Illinois Valley, Cave Junction, Oregon, condition
report, republication not required
Bank of Laguna Beach, Calif., purchase of note of affiliated
corporation as loan or extension of credit
Bank of Lebanon, Oregon, application for membership approved
subject to condition re paid-up and unimpaired capital stock, advice to FRBank of
San Francisco re handling of similar
applications
Bank of New Hyde Park, New York, application for withdrawal,
six months notice waived and immediate
approved
Application for continuance of insurance after withdrawal from membership, advice to FDIC
Granted extension of time to accomplish withdrawal from
membership
Bank of Nutley, N. J.:
Merger with First National Bank of Nutley, N. J., Board
approval not required
Revised schedule of checking account service charges at
Yantacaw Office, reply to letter from Mr.
Ciardi sent to Congressman Rodino
Bank of Ohio Valley, Pittsburgh, Pa., absorption by Colonial
Trust Company, Pittsburgh, Pa., approved
Bank of Pontiac, Illinois, certification to FDIC as member
of FRSystem
Bank of San Rafael, Calif., establishment of branch in
Kentfield, Calif., matter to be discussed
with Mr. Powell
Establishment of branch in Kentfield, not approved
Bank of York, Alabama, banking quarters, additional investment for construction of new building and
purchase of fixtures approved
Bankers Trust Company, New York:
London branch, examination procedure approved
Proposed merger with Commercial National Bank and Trust
Company, discussion and statement of Mr.
Powell re
Absorption of Commercial National Bank and Trust Company of New York approved
Banking quarters, investments in, advice to FRBanks re
charge-offs and Board approval required




11/21

2295

9/14

1936

9/21

1982

8/29

1842

5/9

1003

7/31

1661

7/10

1519

2/26

440

2/28

465

62
/6

1428

6/13

1326

8/27

1823

9/10

1901

2/2

239

8/21
9/14

1935

9/27

2019

4/27

910

4/24

885

5/14

1046

4/30

914

1785

405
Pages
State member banks: (continued)
Bar Harbor Banking and Trust Company, Bar Harbor, Maine, removal of branch office on Main Street,
Southwest Harbor, Maine, to more desirable
3/21
building, Board approval not required
Beaver Trust Company, Beaver, Pa., establishment of branch
in Midland, Pa., in connection with
absorption of Midland Bank, Midland, Pa.,
12/19
approved
Bell Gardens Bank, Bell Gardens, Calif., application for
continuance of insurance after withdrawal
3/28
from membership, advice to FDIC
Six months notice waived and immediate withdrawal from
membership approved
4/5
Bloomfield Bank and Trust Company, Bloomfield, N. J., reply
to inquiry on rates of interest on time
11/23
deposits
Broadalbin Bank, Broadalbin, New York, application for
membership approved subject to charge off
of losses
4/27
California Bank, Los Angeles, Calif., granted extension of
time to establish branch in Vernon, Calif.
4/19
Central Hanover Bank & Trust Company, New York:
4/27
London Branch, examination procedure approved
London Branch, examination of, copies of report sent to
10/18
FRBank of New York for transmittal
Central Trust Company, Cincinnati, Ohio, granted extension
of time to establish branch in North
4/13
College Hill, Hamilton County, Ohio
Central Valley Bank of California, Richmond, Calif.:
Establishment of branch in Manteca, Calif., approved
in connection with proposed merger with
10/26
Bank of Manteca
12/3
Proposed retirement of preferred stock approved
Chemical Bank and Trust Company, New York, N. Y., merger
with National Safety Bank and Trust Company of New York without increasing
capital and surplus of continuing bank
3/9
approved
Citizens Bank of Aztec, New Mexico, application for continuation of insurance after withdrawal
3/28
from membership, advice to FDIC
waived and immediate withdrawal from
Six months notice
/9
62
membership approved
time to accomplish withdrawal from
Granted extension of
10/9
membership
Kansas, banking quarters,
Citizens State Bank, Liberal,
expenditure for construction of new build2/2
ing approved
City Bank, Detroit, Michigan:
/7
Application to act in several agency capacities approved 6 2




636

2454

691
739

2299

901
860
910
2136

805

2174
2331

549

691
1465
2078

240
1110

406
Pages
State member banks: (continued)
City Bank, Detroit, Michigan: (continued)
Establishment of branch at Hazel Park, Michigan, following consolidation with Peoples State Bank
of Hazel Park, Mich., approved
Cleveland Trust Company, Cleveland, Ohio:
Granted extension of time to establish branch in
Euclid, Ohio
Granted extension of time to establish branch in
Euclid, Ohio
Establishment of branch near corner of West 210th
Street and Center Ridge Road, in either
Rocky River or Fairview Park, Ohio,
approved
Colonial Trust Company, Pittsburgh, Penna.:
Granted extension of time to establish branch in
Neville Township, Allegheny County,
Penna.
Absorption of Bank of Ohio Valley, Pittsburgh, Pa.,
approved
Granted extension of time to establish branch in
Neville Township, Allegheny County, Pa.
Colonial Trust Company, Waterbury, Conn., establishment of
branch in Watertown, Conn., approved in
connection with merger with Watertown
Trust Company, Watertown, Conn.
Commerce Trust Company, Kansas City, Mo., purchase of
assets and assumption of liabilities of
Stock Yards National Bank of Kansas City,
Mo., approved in view of emergency situation
Commerce Union Bank, Nashville, Tenn., establishment of
branch in Woodbine community outside
corporate limits of Nashville, Tenn.,
approved
Commercial Bank of Oregon, Hillsboro, Oregon:
Establishment of branches in Sherwood, West Slope,
Banks, and Vernonia, Oregon, approved
Fiduciary powers, no objection to exercise of, but
acquisition of powers of Commercial National Bank of Hillsboro subject to laws
of State
Commercial Bank of Utah, Spanish Fork, Utah:
Establishment of branch in Roosevelt, Utah, approved
in connection with absorption of Roosevelt State Bank
Duchesne, Utah, establishment of branch approved
Condition reports:
Call as of January 4
Call as of April 9




12/26

2486

4/23

874

8/31

1851

11/6

2210

6/25

1410

9/10

1901

12/20

2476

5/28

1197

8/9

1719

8/23

1805

12/7

2384

12/7

2385

6/13
7/11

1328
1527

1/2

10
747

4/9

407
Pages
State member banks: (continued)
Condition reports: (continued)
Addition of memorandum item to Schedule A, inclusion to
be discussed further with National Association of Supervisors of State Banks
Call as of June 30
Draft of form FR 105 for end-of-year call sent to Bureau
of the Budget
Call as of October 10
Call as of December 31
Continental State Bank, Boise, Idaho:
Condition report, FR 220 and FR 220a not required for
affiliate, Homedale State Bank, Homedale,
Idaho
Kiting of checks by George Henry Lane, Jr., noted in
examination report but not considered
criminal violation
Establishment of branch in Richfield, Idaho, in connection with absorption of First State
Bank, Richfield, Idaho, approved
County Bank and Trust Company, Cambridge, Mass., banking
quarters, additional expenditure for
improvements approved
County Trust Company, White Plains, New York, establishment
of branch in Bedford Village, N. Y.,
approved
Deposit Guaranty Bank & Trust Company, Jackson, Miss.,
additional investment for construction of
parking garage, annex to main office and
branch office building approved
Dothan Bank and Trust Company, Dothan, Alabama, granted
permission to act as Fiscal Agent for
Housing Authority of City of Dothan
Elyria Savings & Trust Company, Elyria, Ohio, granted extension of time to establish branch in
Avon Lake, Ohio
Endicott Trust Company, Endicott, New York, establishment
of branch in Endwell, New York, approved
Examination of, proposal of FRBank of New York to be considered further
Examination reports, annual inspection by Texas Banking
Commissioner's representative for confidential use approved
Exchange Bank and Trust Company, Franklin, Pa., application for membership approved subject to
charge off of losses shown in report of
examination
Granted extension of time to accomplish membership
Farmers State Bank of Alpha, Illinois, application for
membership approved




6/4
7/3

1236
1488

10/10
10/17
12/28

2085
2126
2512

5/8

1000

7/18

1570

12/18

2446

3/16

605

2/6

261

6/12

1315

9/11

1918

5/3

972

10/16

2116

11 2
/8

2316

6/14

1340

4/4
4/30

724
915

2/1

230

408
Pages
State member banks: (continued)
Farmers State Bank, Brookston, Indiana, application for
fiduciary powers approved
Farmers State Bank, Jessup, Iowa, six months notice waived
and immediate withdrawal from membership
approved
Application for continuance of insurance after withdrawal from membership, advice to FDIC
Farmers State Bank of Worland, Wyoming, expenditures for
remodeling banking premises approved
Fidelity Bank, Durham, North Carolina, banking quarters,
additional investment for main office and
West Durham branch approved
Fidelity Bank and Trust Company, Houston, Texas, additional
investment in bank premises approved
Fidelity-Philadelphia Trust Company, Philadelphia, Pa.,
services as agent for banks and trust
companies in administration of common
trust funds not prohibited by Regulation
F or fiduciary relationship
Correspondence re Regulation X, applicability of section 5(k) to escrow arrangement and May 1
date, advice to FRBank of Philadelphia
Fidelity Union Trust Company, Newark, N. J., establishment
of branch in Belleville, N. J., and
absorption of First National Bank of
Belleville without increasing capital
approved
First Bank of Alabaster, Alabama, application for membership approved subject to special condition re paid-up and unimpaired capital
stock and other capital funds
Granted extension of time to accomplish membership
First State Bank of Lynwood, California, republication of
report of affiliate to correct inaccuracies
not required
First State Bank, Richfield, Idaho, absorption by Continental State Bank, Boise, Idaho
Guaranty Trust Company, New York:
Brussels, London, and Paris branches, examination procedure approved
Examination of foreign branches in London, Paris, and
Brussels, copies of reports sent to
)
Hadley Falls Trust Company Holyoke, Mass., removal of
branch office located on Center Street,
Chicopee, Mass., to new building, Board
approval not required
Hanover Bank, New York, shortage of nickels, letter to
Senator Lehman
Harris Trust and Savings Bank of Chicago, guarantee agreement, question of liability of guarantor
under amendment to, advice to FRBank of
Chicago



5/17

1104

4/5

738

4/24

889

1/30

220

1/25

199

8/3

1682

1/23

174

4/27

907

3/22

645

10/18
11/20

2135
2290

1/8

70

12/18

2446

4/27

910

/0
11 2

2290

4/16

813

9/7

1885

1/9

84

409
Pages
State member banks: (continued)
Hempstead Bank, Hempstead, New York, establishment of
branch in Bethpage, New York, approved
Granted extension of time to establish branch at Bethpage, New York
Houlton Trust Company, Houlton, Maine, application for
membership approved
Houtzdale Bank, Houtzdale, Pennsylvania, six months notice
waived and immediate withdrawal approved
Continuance of insurance after withdrawal from membership in FRSystem, advice to FDIC
Industrial Trust Company, Providence, R. I., establishment
of branch in City of Warwick, and additional branches in City of Newport and
Town of East Providence approved
City of Warwick, R. I., granted extension of branch in
Interboro Bank and Trust Company, Prospect Park, Pa.,
penalty for deficiency in reserves waived
Irving Trust Company, New York, examination report, inspection by Texas Banking Commissioner's representative for confidential use approved
Jeff Davis Bank and Trust Company, Jennings, La., no objection to acting as joint trustee in matter
with Calcasieu-Marine National Bank of
Lake Charles, La.
Jefferson-Gravois Bank of St. Louis, Mo., application for
continuance of insurance after withdrawal
from membership, advice to FDIC
Granted extension of time to accomplish termination of
membership ,
Lane County Bank, Florence, Oregon, application for membership approved
Liberty Bank of Buffalo, New York, establishment of de novo
branch in Niagara Falls, N. Y., approved
Lincoln Rochester Trust Company, Rochester, N. Y., establishment of branch in Hammondsport, N. Y.,
approved in connection with absorption of
Bank of Hammond sport
Manufacturers and Traders Trust Company, Buffalo, N. Y.
establishment of additional branch in
Niagara Falls, N. Y., approved
Marine Trust Company of Buffalo, New York, granted extension of time to establish branch in City
of Lackawanna, New York
Granted permission to establish 12 out-of-town branches
in connection with absorption of six other
banks, name to be changed to Marine Trust
Company of Western New York
Marine Trust Company of Western New York, Buffalo, N. Y.,
establishment of additional branch in North
Tonawanda, N. Y., approved




3/22

644

9/7

1884

3/13

573

11/8

2216

11/28

2315

1/12
7/11

114
1527

3/16

606

6/14

1340

10/12

2095

3/21

637

5/23

1173

4/17

839

9/14

1935

8 2
/9

1842

9/14

1934

3/28

691

4/11

778

9/14

1934

410
Pages
State member banks: (continued)
Marion County Banking Company, Guin, Ala., banking
quarters, additional investment for
remodeling approved
4/4
Matawan Bank, Matawan, New Jersey, application for member11/13
ship in FRSystem approved
Mercantile Commerce Bank and Trust Company, St. Louis, Mo.,
proposed consolidation with Mississippi
Valley Trust Company, St. Louis, involving
technical violations of Section 5136, Revised Statutes, Board would not expect to
object, advice to be given inforrally by
6/5
Mr. Vest
Action rescinded after point raised in telegram from
FRBank of St. Louis, matter to be con6/5
sidered further
Purchase of stock of Mercantile-Commerce National Bank
and technical violations, new application
for membership not required and no action
6/12
to be taken
Disposition of stock of Mercantile-Commerce National
Bank of St. Louis, request by Mr. Treiman
6/25
for hearing on behalf of clients
Opposition of outlying bankers, statement of Mr. Johns
7/3
on situation
Request of Mr. Berger for copy of letter re purchase of
Mercantile-Commerce National Bank, Board
7/12
not to furnish such information
Mercantile Trust Company, St. Louis, Mo., formation by
consolidation of Mercantile-Commerce Bank
and Trust Company with Mississippi Valley
Trust Company, draft of letter re to be
8/21
circulated to all Board members
To become member upon formation by consolidation of
Mercantile-Commerce Bank & Trust Company
with Mississippi Valley Trust Company,
8/23
advice to FRBank of St. Louis
Member of Advisory Board not permitted to serve as
director of Manufacturers Bank and Trust
10/10
Company, advice to FRBank of St. Louis
No change in ruling after reconsideration of new by12/4
laws
Sec. 18(c) of Federal
Mergers or absorptions pursuant to
8/16
Deposit Insurance Act, statement of policy
absorption by Beaver Trust
Midland Bank, Midland, Pa.,
12/19
Company, Beaver, Pa., approved
Mimbres Valley Bank, Deming, New Mexico, to continue to
act as Trustee under Agreement of an issue
of $17,000 par value Farm Revenue Bonds of
87
/
Deming Municipal Board of Education




725
2241

1241

1249

1299

1412
1473

1536

1784

1806

2087
2357
1754
2454

1701

411
Pages
State member banks: (continued)
Mississippi Valley Trust Company, St. Louis, proposed consolidation with Mercantile-Commerce Bank
and Trust Company, St. Louis, involving
technical violation of Section 5136, Revised Statutes, Board would not expect to
object, advice to be given informally by
/
6 5
Mr. Vest
Action rescinded after point raised in telegram from
FRBank of St. Louis, matter to be con/
65
sidered further
Purchase of stock by Mercantile-Commerce National Bank
and technical violations, new application
for membership not required and no action
6/12
to be taken
Opposition of outlying bankers, statement of Mr. Johns
on situation
7/3
Montclair Trust Company, Montclair, N. J., establishment of
branch in Verona, N. J., and absorption of
8/31
Verona Trust Company approved
Montgomery Trust Company, Norristown, Pa., establishment of
branch in North Wales, Pa., subject to
absorption of North Wales National Bank,
12/20
approved
Morristown Trust Company, Morristown, New Jersey, establishment of branch in Borough of Morris
2/7
Plains, N. J., approved
Nashville State Bank, Nashville, Indiana, application for
1/24
membership approved
report,
New York Trust Company, New York, examination
inspection by Texas Banking Commissioner's
representative for confidential use ap61
/4
proved
Brookline, Mass., granted
Norfolk County Trust Company,
permission to establish branches in Medfield, Westwood, Sharon and East Milton,
4/10
Mass.
of time to establish branches in
Granted extension
10/9
Medfield, Sharon, and East Milton, Mass.
Braintree National Bank, Braintree,
Absorption of
Mass., and establishment of branches in
Braintree and South Braintree, Mass.,
10/29
approved
Bank, Normandy, Mo., investment in bank
Normandy State
4/16
premises approved
Company, Chicago, Illinois, examination deNorthern Trust
12/6
ferred
Oaktown Bank, Oaktown, Indiana, six months notice waived
and immediate withdrawal from membership
9/21
approved




1241

1249

1299
1473

1850

2475

265
182

1340

773
2078

2180
813
2377

1981

412
Pages
State member banks: (continued)
Pan American Bank of Miami, Florida, purchase of stock of
corporation holding bank premises, question of affiliate relationship, advice to
FRBank of Atlanta
Parker Bank and Trust Company, Cullman, Ala., investment
in bank premises for purchase of lot and
construction of new building approved
Application to act as Trustee under indenture to be
executed by Cullman Improvement Authority
to secure bond issue approved
Peachtree Bank & Trust Company, Atlanta, Georgia, six
months notice waived and immediate withdrawal from membership approved, advice to
FDIC re continuance of insurance
Pennsylvania Company for Banking and Trusts, Philadelphia,
Pa., question of affiliate Colonial Surety
Company engaging in insurance business and
violation by member bank of, advice to
FRBank of Philadelphia
People's Bank of Fleming County, Kentucky, Flemingsburg,
Ky., certification to FDIC as member of
FRSystem
Peoples Bank & Trust Company, Selma, Ala., application for
fiduciary powers approved
Peoples Trust Company of Bergen Countyl Hackesack, N. J.,
additional investment in bank premises
approved
Power City Trust Company, Niagara Falls, N. Y., merger with
Marine Trust Company of Buffalo, N. Y.
Raleigh County Bank, Beckley, West Virginia, application for
membership approved after receipt of additional information re correction of conditions
Rhode Island Hospital Trust Company, Providence, R. I.,
application for membership approved, exceptions noted in examination report to be
brought into conformity with law, retention of out-of-town branches and absorption
of affiliate Rhode Island Hospital National Bank of Providence approved
Certification to FDIC as member of FRSystem
Absorption of Woonsocket Trust Company and establishment of two additional branches in Woonsocket, R. I., approved
Richland Trust Company, Mansfield, Ohio, increase in carrying value of indirect investment in bank
premises approved
Roosevelt State Bank, Roosevelt, Utah, absorption by Commercial Bank of Utah, Spanish Fork, Utah,
and establishment of branch in Roosevelt




3/5

488

3/23

655

6/27

1439

9/27

2018

3/7

509

1/2

12

2/2

240

2/5

248

4/11

778

9/25

2000

10/19
11/2

2142
2201

11/15

2261

5/28

1197

6/13

1328

413
Pages
State member banks: (continued)
Sarasota State Bank, Sarasota, Florida, six months notice
waived and immediate withdrawal from
membership approved, advice to FDIC re
continuation of insurance
and Savings Bank, Seattle, Wash., establishSeattle Trust
ment of branch on Aurora Avenue outside
corporate limits of Seattle approved,
authority for branch between 180th and
185th Streets cancelled
Security State Bank and Trust Company of Beaumont, Texas,
additional expenditure in bank premises
approved
Southern Arizona Bank and Trust Company, Tucson, Ariz.,
permission to establish branch outside
corporate limits
Commercial and Savings Bank, East Pasadena, Calif.
Southern
establishment of 2 branches in Long Beach,
Calif., approved in connection with
absorption of Long Beach National Bank,
Long Beach, Calif., and establishment of
a branch at San Marino and in Monterey
Park-Garvey-Wilmar area, Los Angeles
County, approved subject to increase in
capital
Southern Commercial and Savings Bank, St. Louis, Mo.,
granted permission to act as escrow agent
and as agent or broker in sale of insurance
State Bank of Nappanee, Indiana, application for fiduciary
powers approved
State Savings Bank, Lowell, Michigan, penalty for deficiency in reserves waived
Sullivan County Trust Company, Monticello, New York, six
months notice waived and immediate withdrawal from membership approved
Application for continuance of insurance after withdrawal from membership, advice to FDIC
Sunray State Bank, Sunray, Texas, application for membership approved subject to condition re paidup and unimpaired capital
Sylvania Savings Bank Company, Sylvania, Ohio, granted extension of time for establishment of branch
in Village of Trilby, Washington Township,
Lucas County, Ohio
Tenafly Trust Company, Tenafly, N. J., merger with Dumont
National Bank, Dumont, N. J., and establishment of branch in Dumont approved,
title changed to County Trust Company
Tower Grove Bank and Trust Company, St. Louis, Mo., Regulation X, interpretation of section 5(b)
requested




7/26

1635

6/19

1375

4/10

773

/9
61

1376

12/17

2433

3/30

710

3/19

615

12/19

2455

4/5

738

4/19

860

6 15
/

1348

1/22

157

6 15
/

1349

7/24

1617

414
Pages
State member banks: (continued)
Union Bank and Trust Company, Delphi, Indiana, application
for fiduciary powers, approved
Union Bank and Trust Company of Los Angeles, California,
republication of condition report to list
name of attesting officer not required
Union Bank and Trust Company, Strawberry Point, Iowa,
application for fiduciary powers approved
Union Bank of Michigan, Grand Rapids, Mich., absorption of
Rockford State Bank, Rockford, Mich., and
establishment of branch in Rockford
approved
Union Trust Company of Maryland, Baltimore, Md., granted
extension of time to establish branch in
Dundalk area, Baltimore County, Md.
Union Trust Company of Springfield, Mass., granted extension of time to establish branch in
West Springfield, Mass.
Granted extension of time to establish branch in West
Springfield, Mass.
Wachovia Bank and Trust Company, Winston-Salem, North
Carolina, granted extension of time for
establishment of branch at West Asheville,
N. C.
Granted extension of time to establish West Asheville
branch
Establishment of additional branch at intersection of
West Morehead Street and Walnut Ave., in
Charlotte, N. C., approved
Granted extension of time to establish branch on West
Morehead Street in Charlotte, N. C.
and Trust Company, Warren, Pa., establishment
Warren Bank
of branches in Tidioute, Pa., and in Sugar
Grove, Pa., in connection with absorption
of Tidioute State Bank, Tidioute, Pa.,
and Sugar Grove Savings Bank, Sugar Grove,
Pa., approved
Washington County Bank, Blair, Nebraska, six months notice
waived and immediate withdrawal from membership approved
Wilmington Trust Company, Wilmington, Delaware, granted extension of time for establishment of branch
in Greenville, Del.
Granted extension of time for establishment of branch in
Greenville, Del.
Establishment of branch at Milford Crossroads, Del.,
approved
State of the Union Message and Economic Report, comments and
recommendations sent to President
Stenographic and typing classes, staff of Board, organization
approved




6/27

1438

5/10

1015

8/7

1702

6/25

1.411

7/6

1506

6/19

1375

11/21

2295

2/8

278

4/3

721

5/28

1196

11 2
/8

2314

1/6
2

2486

5/8

999

2/2

239

8/7

1701

9/7

1884

12/4

2349

10/8

2074

415
Pages
Stenographic reports:
Public Loan Corporation in San Francisco, copy of testimony
of Regulation W investigation to be
purchased by
Sterling, Robert, Regulations T and U, reply to inquiry re
applicability to loan
Stiles, F. C., Regulation X, section 5 (g), advice re purpose of
Stipulations:
H. Bartels, Inc., Philadelphia, Pa., Regulation W violations, stipulation of counsel approved
Stock, capital:
Adequacy, formula to determine, reply to letter of Mr.
Freeman re System practice
Proposed report of subcommittee of Illinois Bankers
Association, reply to letter from Mr.
Gaylord A. Freeman, Jr.
Durfee Trust Company, Fall River, Mass., granted
B.M.C.
permission to reduce
Chase Bank, New York, application to purchase stock in
Brazilian corporation, further information
requested before consideration
Approved, advice to Mr. Aldrich
Corporation:
Holding title to real estate to be used for bank
premises, purchase by Pan American Bank
of Miami, Fla.
To be organized in Brazil, investment by Chase Bank,
letter to Mr. Aldrich on
for increasing in insured banks, discussion
FDIC procedures
at meeting, statement of Mr. Powell on
First Bank of Alabaster, Alabama, application for membership approved subject to special condition
re paid-up and unimpaired capital stock
and other capital funds
Fults, Elbert 0., appointment as examiner at FRBank of
Chicago approved, to dispose of stock in
Genesee County Savings Bank, Flint, Mich.
Gardenhour, Edgar F., appointment as examiner approved,
stock in Nicodemus National Bank,
Hagerstown, Md., to be disposed of
FRExaminer for Richmond Bank, requirement for disposal
of stock in Nicodemus National Bank,
Hagerstown, Md., waived to prevent undue
hardship
Mercantile-Commerce National Bank, St. Louis, Mo., purchase
of stock by Mercantile-Commerce Bank and
Trust Company, St. Louis, Mo., in connection with consolidation with Mississippi
Valley Trust Company
Disposition of stock by Mercantile-Commerce Bank and
Trust Company of St. Louis, request of Mr.
Treiman for hearing on behalf of clients




5/8

994

3/6
1/22

500
160

8/8

1712

5/2

954

10/9

2079

11/21

2295

10/19
11/13

2139
2226

3/5

488

4/18

850

11/27

2308

10/18

2135

7/31

1660

3/13

572

5/16

1091

6/12

1299

6/25

1412

416
Pages
Stock, capital: (continued)
Mergers, involving payment of cash to shareholders so as to
have inflationary aspects, policy statement
re, discussion of, matter deferred for consideration at meeting when Chairman Martin
81
/4
would be present
and absorptions between banks requiring prior conMergers
sent of Board, statement of policy re,
copies sent to Comptroller of the Currency
8/16
and FDIC for comments
National Bank, Everett, Mass., basis for
Middlesex County
computing profits on sales of stock
acquired by Baystate Corporation, Boston,
Mass., in connection with merger of bank
2/8
and First National Bank in Medford, Mass.
Requirements of member banks, legislation re, Mr. Powell to
discuss matter with Comptroller of the Cur1/9
rency and Chairman of FDIC
Draft of legislation discussed by Mr. Powell with FDIC,
report to be made of discussion with Comp3/6
troller of the Currency
Draft of legislation presented by Mr. Powell to FDIC
3/27
and Comptroller of the Currency for study
4/12
Legislation proposed by Mr. Powell
Draft of bill sent to FRBanks for comments
4/24
5/18
Legislation, discussion at Presidents Conference
Requirements for State member banks and out-of-town branches,
comments of FRBanks requested for report
11/2
on legislative proposals for 1952
12/4
Report on draft of bill sent to Bureau of the Budget
Modified bill to amend FRAct and Revised Statutes sent
12/12
to FDIC for comments
Taxation of banks, reference to ability of banks to improve
capital positions out of earnings and to
attract new capital funds, discussion at
Presidents Conference, study of question
10/4
to be considered
Relationship to ability to improve capital positions
and to attract new capital funds, discussion of possible study re, recommenda10/15
tion to be submitted by staff
Tenafly Trust Co., Tenafly, N. J., increase in connection
with merger with Dumont National Bank and
6/15
change in title to County Trust Company
Stock, corporate:
Corporation to be organized in Brazil to purchase and sell,
1/11
request of The Chase Bank to buy stock of
Stock, preferred:
Central Valley Bank of California, Richmond, Calif., pro12/3
posed retirement approved
RFC program for disposal of stock and debentures of banks,
10/24
no objection to




1746

1754

278

82

496
682
793
880
1128

2202
2352
2403

2060

2110

1349

108

2331
2154

417
Pages
Stock exchanges:
Los Angeles, files of requests for extensions of time under
section 4 of Regulation T, preservation not
required after two-year period, advice to
FRBank of San Francisco
12/5
Midwest Stock Exchange, application of Regulation T to
member registered and acting as specialist
in registered securities, advice to FRBank
of Chicago
1/30
Designation under section 4(g) of Regulation T, inquiry
re requirements as to specialist's report,
advice to FRBank of Chicago
3/13
New York, change in Regulation T suggested by, approved by
8/28
Mr. Gray
Regulation T, Amendment No. 11, advice to Mr. Gray re
8/28
changes
Stock market:
Developments, comments of Mr. Szymczak on, and on amendment
4/10
of withdrawal and substitution privilege
Stock room:
Supplies, increase in limitation on amount to be carried
approved, Division of Administrative Services authorized to purchase supplies in
7/26
amount not exceeding $20,000
Studies:
Active service death benefits, Towers, Perrin, Forster &
1/3
Crosby, Inc., authorized to make study
Study by Towers firm, letter in reply to comments of
2/9
Mr. SDroul
Cattle situation, by Office of Price Stabilization, dis11/20
cussion at FAC meeting
Consumer credit regulation in Canada, staff members to
visit Bank of Canada to obtain information
3/8
on
revision, appointment of consultants
Consumer credit series
10/26
for work and compensation approved
public investigation to determine recomCredit extensions,
mendations to be made to Congress re
further legislation, Mr. Powell to con1/30
sider kind of study
demands for and supply of over next
Credit, prospective
six to twelve months, recommendation of FAC
that FRBoard undertake, memo of Mr. Young
5/15
re and discussion
supervisory agencies, to make joint study re
Federal bank
emergency proclamation by President covering banking situation, Mr. Powell to repre12/7
sent Board
expenditures by FRBanks and Board, discussion
Publications,
of review of subject matter and possible
survey by person outside System, but no
conclusion reached
5/10




2364

221

573
1832
1836

758

1630

23
313
2279

522
2173

215

1067

2382

1011

418
Pages
Studies: (continued)
Heal estate and construction field, developments, study being made by interdepartmental committee of
Government agencies, summary to be prepared for use of Board
Regulation X, relaxation of terms, staff to make study and
submit recommendation at Board meeting on
August 7
Taxation of banks, discussion at Presidents Conference,
question of study to be considered
Relationship to ability to improve capital positions
and to attract new capital funds, recommendation to be submitted by staff
Impact of excess profits taxes, procedure for System's
participation approved, Board to be advised
further re scope
Effect on working capital position of business of requirements of Mills Plan re Federal taxes,
private study to be made available to
Board, discussion at FAG meeting
Effect of excess profits taxes on capital position,
study approved, advice to FRBanks re questionnaire and arrangements
Effect on bank earnings, employment of Mr. Roland I.
Robinson by FRBank of Chicago to prepare
paper approved
Training programs in FRSystem, meeting of FRBank representatives with Messrs. Norton and Allen
to be held on November 13, Personnel Committee to continue to study matter
Subpoenas:
Issuance by Board, amendment to Rules of Procedure approved
Surveys:
Bank lending, spot survey in FRdistricts re trends,
approved, Mr. Powell to work out details
with Mr. Young
Consumer credit, special tabulation of 1948 Census of
Business data to be obtained from Bureau
of the Census to show amount of credit extended by retail trade groups in each
FRdistrict
Consumer credit statistics, revision authorized
Consumer Finances for 1950, reimbursement to Survey Research
Center for amount in excess of estimate of
cost approved
Sixth National Survey, expenses in excess of amount provided in agreement approved, advice to
University of Michigan
Seventh Nation-wide Survey approved after discussion of
uses and need for




r7/17

1557

7/31

1652

10/4

2060

10/15

2110

11/14

2246

11/20

2276

12/6

2370

12/6

2375

10/26

2166

62
/8

1453

12/28

2509

/
6 13
62
/6

1336
1423

3/6

505

4/11

785

9/27

2010

419
Pages
Surveys: (continued)
Consumer Finances for 1950: (continued)
Seventh annual, contract with University of Michigan
approved, advice to Vice President
Pierpont
Currency movements, collection on monthly data from all
FRdistricts except Minneapolis with banks
at ports or on Canadian or Mexican borders,
approved
Foreign Service Economic Reporting, report on survey by
Bureau of the Budget, Board to cooperate
in adoption of proposed improvements
National Analysts, Inc., of house purchasers, additional
work requested, reimbursement for extra
costs for first work and additional to be
made
Nonfarm mortgage lending activities, collection of information from lending institutions re, Housing
and Home Finance Agency and Bureau of the
Budget to be advised of willingness of
Board to make
Publications, exchange between Board and USSR, survey of
arrangements sent to Department of Justice
Regulation X, survey of building and mortgage lending field
to determine effects of, advice to FRBanks
Retail credit for 1951, resumption proposed, question to be
placed on docket for consideration at next
meeting of Board
Retail Credit Survey for 1951, plans approved
Sutton, Pat, Regulation W, letter from Mr. Holt re effects on
sales of household appliances and television sets
Sutton Realty Company of Providence, R. I.:
Regulation X, application for exemption under section 5(g)
denied as submitted after expiration date,
advice to FRBank of Boston
Swartz, 0. A., Regulation W, monthly payments on automobiles
not being met, statement re to Representative Talle
Switzerland:
Occupation by foreign power, operation of accounts on books
of FRBank of New York in event of
Syracuse, New York:
Defalcation in, further advice to FRBanks re circumstances,
problem of audit and controls system to be
studied

10/31

2190

/7
81

1767

/
2 13

336

5/16

1098

1/2

2

12/18

2448

1/22

158

11/15
12 4
/

2258
2348

6/4

1238

62
/2

1409

5/11

1032

4/5

737

8/2

1671

fir

Tackett, Boyd:
Regulation W, enforcement procedures, statements in Congressional Record, to be ignored in absence of
6/28
further developments



1457

420
Pages
Tackett, Boyd: (continued)
Regulation W: (continued)
Release condemning enforcement practices and resolution
to investigate
Criticism of enforcement procedures, staff to prepare
reply for Chairman's signature
reply to letter and invitation to discuss
Statistics,
matter with Board
Talle, Henry 0.:
Regulation W, monthly payments not being met, statement of
Mr. 0. A. Swartz
X, letter from Mr. D. M. Earll on registration
Regulation
under
Talmadge, Mrs. Charles, Regulation X, application to financing
of repairs for tobacco warehouse
Taxation:
Banks, ability to improve capital positions and to attract
new capital funds, statement of Mr.
Schapiro re H.R. 4473, study of question
to be considered, discussion at Presidents
Conference
Relationship to ability to improve capital positions
and to attract new capital funds, discussion of possible study re, recommendation to be submitted by staff
Study of impact of excess profits taxes, procedure for
System's participation approved, Board to
be advised further re scope
Study of effect of excess profits taxes on capital
position, approved, advice to FRBanks re
questionnaire and arrangements for
Bonds, defense, exemption on income from, discussion of
possibility at FAC meeting
Legislation, recommendations to be made to Congress, views
of Board to be stated by Mr. Riefler at
meeting at Treasury
To combat inflation, statement of FAC
Discussion at FAC meeting of probable effects of tax
bill
Mills plan, effect on working capital position of business
of requirements re Federal taxes, private
study to be made available to Board, discussion at FAC meeting
Regulation WI letter from Mr. Edward W. Thompson to Senator
Magnuson re taxation of instalment payments
Roland I., employment by FRBank of Chicago to
Robinson,
make study re effect on bank earnings
approved
Savings bonds earnings, question of exemption from income
tax, discussion at Presidents Conference




7/12

1536

10/26

2169

12/4

2354

5/11

1032

7/2

1470

4/27

905

10/4

2059

10/15

2110

11/14

2246

12/6

2370

11/20

2288

1/25
/0
22

191
383

9/18

1950

11/20

2276

/4
61

1341

12/6
5/18

2375
1135

421
Pages
Telephone service, preferential treatment for members of
Board's organization, Secretary or Assistant Secretary authorized to certify forms
in connection with requests for
Texas:
Veterans, issue to finance purchase of farm lands by,
statement of Mr. Powell at FAG meeting
Texas Banking Commissioner:
Inspection of examination reports of State member banks in
connection with approval of out-of-state
reserve depositories, permission granted
Thomas, Albert, Regulation W, application to sales of television sets
Sales of television sets and trade-ins as down payments,
reply to telegram from Mr. Dickerson
W., taxation of instalment payments, letter to
Thompson, Edward
Senator Magnuson
Thye, Edward J., Regulation W, letter from Mr. Paul E. Trueman
of Quinn Brothers, Willmar, Minn., on
administration of
Methods used by FRBank of Minneapolis in connection with
investigation, reply to complaint
Further advice re
Letter from Mr. G. J. Patsey re payments on automobiles by
newly ordained clergymen
Tipple, I. L.., Regulation X, advice re purposes of
Titles:
Commercial Bank of Oregon, Hillsboro, Oregon, merger of
Citizens Bank of Sherwood, Oregon, Commercial National Bank of Hillsboro,
Oregon, and Commercial Bank of Oregon,
West Slope, Oregon, under new title
approved
Ehninger, Carl F., FRBank of Cleveland, title changeiby
by-law amendment from "Auditor" to "General Auditor"
Federal Reserve Life Insurance Company, St. Louis, No.,
violation of U. S. Code by using Federal
and Reserve in title
Marine Trust Company of Buffalo, New York, to be changed
to Marine Trust Company of Western New
York, upon absorption of six other banks
Moore, A. A., change in title from Night Settlement Clerk
to Relief Settlement Clerk
Tenafly Trust Company, Tenafly, N. J., merger with Dumont
National Bank, Dumont, N. J., and change
of title to County Trust Company
Titus, Ray E., President, General Finance Corporation, Regulation W, discrimination against lower income group stated by




11/8

2221

11/20

2277

/4
61

1340

4/12

800

4/27

903

6/14

1341

6/22

1405

7/19
8/3

1591
1683

9/5

1867
1037

5/11

12/7

2384

12/28

2512

5/14

1042

4/11

778

12/28

2510

6 15
/

1349

5/22

1160

422
Pages
Tobey, Senator Charles W., Regulation W, letter from Mr. Mayo
disputing statement that good used cars
7/20
can be purchased for less than $800
Towers, Perrin, Forster & Crosby, Inc., authorized to make
study re active service death benefits for
1/3
employees of FRSystem
Name of firm not to be mentioned in explanatory pamphlet
12/4
re group life insurance contract
Training programs in FRSystem:
Meeting of FRBank representatives to be held with Messrs.
Norton and Allen, Personnel Committee to
10/26
continue to study matter
Transamerica Corporation:
Proceeding against:
Goldenweiser, Dr. E. A., travel expenses approved in
1/3
connection with trip to San Francisco
Townsend, J. Leonard, travel expenses approved for
trip to San Francisco for completion of
1/3
records
O'Keefe, Gregory, services to be retained until comple1/12
tion of legal work on
Payment to FRBank of New York for services during
1/22
November 1950 approved
Briefs and findings to be studied by Mr. Evans, services of attorney and legal stenographer
3/29
and expenses approved
Correction of testimony, travel expenses approved for
4/10
Mr. Townsend for trip to confer re
Hodge, Paul C., technical adviser to Hearing Officer,
4/12
present at Board meeting
on Respondent's request for adeStatement and Order
quate time to examine and reply to exhibits,
proposed findings, and brief filed by
4/12
Solicitor, referred to Hearing Officer
by Mr. Evans, Board members to be familiar
Status, review
4/12
with facts and issues to reach decision
Hearing Officer, extension of time for
Decision of
4/17
filing recommendation, order approved
completion of hearings, recommendations
Time schedule for
5/15
of Messrs. Hodge and Smith discussed
technical adviser to Hearing Officer,
Hodge, Paul C.,
recommendations re time schedule for com5/15
pletion of hearings
Counsel, recommendations re time
Smith, J. J., Special
5/15
schedule for completion of hearings
5/15
Oral argument, discussion of time shcedule for
Time, order fixing time for filing exceptions and briefs
5/15
approved
respondent's request for oral argument
Order granting
and motion for additional time to file and
6/19
brief exceptions and objections, approved




1601

23
2359

2166

26

26
117
156

699
755
788

788
796
818
1071

1072
1074
1078
1078

1362

423
Pages
Transamerica Corporation: (continued)
Proceeding against: (continued)
Goldenweiser, E. A., consultant, discussion of payment
of fees and expenses in connection with
Witness fees, discussion of payment to Dr. Goldenweiser
Dismissal, motion filed by Transamerica for, to be
placed on docket for meeting of next week
Motion filed by Mr. Townsend to extend time for filing
reply briefs and to set date for oral argument, to be placed on docket for meeting
of next week
argument, December 10 to be set for final argument
Oral
Statement and order on Respondent's motion to dismiss,
request for oral argument granted at time
of final hearing and request that Board
obtain legal advice through Government
channels denied
Order extending time for filing reply briefs and
setting time for oral argument approved
Oral argument, order setting time for approved
Oral argument, order of, advice to Mr. Gesell re procedure
Subpoena power, recommendation of Mr. Vardaman that
Congress be requested to give to Board
Voting permits, granted limited permit to vote stock of
three national banks
Issuance of limited permit to vote stock of First National Bank of Mountain View, Calif.
Travel expenses:
Advances to examiners, field staff, advance not exceeding
28 days per diem without security approved
upon application
Amendments to regulations approved to increase per diem
for Board members to $15 and for heads and
assistant heads of divisions to $12 and to
include other technical changes
Benner, Henry, Assistant Director of Division of Selective
Credit Regulation, approved for move to
Washington and per diem until establishment
of residence
Barker, C. S., expense voucher approved for period including
nine days of sick leave and per diem to be
paid during illness while away from headquarters until September 30, 1951
Board members, requests to be submitted to Mr. Norton on
behalf of Personnel Committee in absence
of Mr. Evans
Calkins, Robert DeB., consultant for Patman questionnaire,
approved
Chief FRExaminer, authorized to use same travel accommodations as assistant heads of divisions




62
/8
/8
62

1455
1455

9/20

1972

9/20
9/20

1972
1975

9/25

1993

9/25
9/25

1995
1997

13
1/0

2329

12/14

2421

6/29

1462

7/12

1542

6/29

1462

4/30

927

2/14

339

7/24

1616

6/12

1312

10/19

2140

3/16

612

424
Pages
Travel expenses: (continued)
Copeland, Morris A., consultant, reemployment, compensation,
6/15
and expenses approved
10/19
for Pathan questionnaire, approved
Consultants
10/26
Cox, Professor Reavis, consultant, approved
W. H., trip from Patterson, N. J., to Washington,
Dillistin,
D. C., to discuss mission to Greece
/
64
approved
to Europe, per diem and amount to cover
Evans, R. M., trip
9/11
extra expenses approved
Trip to Europe, correction in amount of money authorized
9/20
for extra expenses
Examiners of Board engaged in examination of Edge banks,
4/27
approved
Examiners of Board and FRBanks engaged in examination of
4/27
foreign branches of Edge banks, approved
Examiners, field staff to meet in Washington for conference at least once each year, per diem
to be paid in lieu of subsistence for all
6/12
in Washington on official business
Examiners of Board, field staff, travel advance in amount
6/15
not exceeding 28 days per diem approved
Examiners, vouchers for Graduate School of Banking to include per diem in lieu of subsistence for
time from duty station to New Brunswick,
7/16
N. J., and return
Examiners of Board, Special Asst. FRExaminers, special
travel allowance of $40 in addition to
per diem and pullman accommodations
approved during time of service with field
8/2
staff
,
Fisler, James V. Asst. FRExaminer, per diem in lieu of sub1/11
sistence while on sick leave approved
Garfield, Frank R., Adviser on Economic Research, to receive
expenses applicable to assistant head of
22
/
division
in connection with trip
.
Goldenweiser, Dr E. A., approved
to San Francisco for Transamerica proceed1/3
ing
10/19
questionnaire, approved
Consultant for Patman
Goodman, Glenn M., examination of foreign branches,
4/27
approved for European trip
branches, authorization for
Examination of foreign
5/14
travel to Europe
5/21
for trip to Europe
Advance of funds approved
4/11
Grove, David L., mission to Paraguay approved
4/17
Mission to Paraguay approved
Mission to Paraguay, return by Buenos Aires and Monte5/4
video approved
Mission to Paraguay, approved for return via Buenos
5/9
Aires and Montevideo, advice to




1347
2140
2173

1234
1916
1976
909
909

1314
1353

1550

1671
110

245

26
2140
910
1041
1141
787
838
982
1002

425
Pages
Travel expenses: (continued)
Guth, Frank C., Jr., examination of foreign branches,
approved for European trip
Advance of funds approved for trip to Europe
Examination of foreign branches, authorization for
travel to Europe
Haring, Professor Albert, consultant, approved
Hearing examiners for Regulation W, increase in Board Members Section budget for
Jones, Homer, granted official leave and expenses to attend
National Conference on Income and Wealth
Katz, Samuel I., trip to London to study domestic financial
situation, approved
Puerto Rican mission, approved
Koch, Albert R.,
Lang, Arthur H., Chief FRExaminer, voucher for expenses
approved
item in 1951 budget to be increased
Legal Division,
Leonard, R. F., Puerto Rican mission, approved
Marget, Arthur W., trip to Europe and attendance at Annul
General Meeting of Bank for International
Settlements, letter of authorization and
approval of expenses
Murff, Gordon R., payment of voucher covering travel from
Dallas, Texas, to Washington, D. C.,
approved
O'Keefe, Gregory, Jr., work to include Regulations W and X,
adjustment in per diem and travel expenses
approved
Olson, Ernest C., mission to Paraguay, advice re
Parry, Carl E., consultant for Patman questionnaire,
approved
Pilger, Mrs. Mildred E., expenses for trip to FRBank of
Atlanta and per diem approved
Approved during assignment at FRBank of Atlanta
Poeppel, Edna B., approved for trip to FRBank of Atlanta
for review of filing system
Professional associations, expenses and official leave
authorized for certain staff members to
attend meetings in Boston
Rachford, Philip C., Asst. FRExaminer, voucher approved for
attendance at Graduate School of Banking
including per diem in lieu of subsistence
for time from duty station to New Brunswick, N. J., and return
Reierson, Roy L., consultant, per diem and expenses between home and Washington, D. C., approved
Robinson, Roland I., consultant, transportation and per diem
approved while away from home on Board
business
Saulnier, R. J., consultant for Patman questionnaire,
approved
Consultant, approved




4/27
5/14

910
1041

5/14
10/26

1042
2173

10/25

2155

9/11

1918

1/4
10/18

31
2135

6/21
4/25
10/18

1386
892
2134

5/22

1156

2/27

461

5/31
3/28

1224
690

10/19

2140

11/6
12/12

2209
2398

6/29

1461

12/18

2441

7/16

1550

8/23

1804

5/29

1210

10/19
10/26

2140
2174

426
Pages
Travel expenses: (continued)
Schultz, T. W., consultant for Patman questionnaire,
approved
Schweiger, Irving, granted official leave and expenses to
attend National Conference on Income and
Wealth
Solomon, Frederic, Puerto Rican mission, approved
Sprecher, H. Franklin, Jr., Asst. Director of Division of
Personnel Administration, per diem until
establishment of local residence and moving expenses approved
Stewart, Walter W., consultant for Patman questionnaire,
approved
Swan, Eliot, Acting Assistant Director of Division of
Selective Credit Regulation, FRBank of
San Francisco to be reimbursed for
expenses
Expenses of trip to San Francisco during assignment
with Board to be paid by Board
Townsend, J. Leonard, approved for trip to San Francisco
for completion of records
Transamerica case, approved for trip as on former basis
Viner, Jacob, consultant for Pathan questionnaire, approved
Voluntary credit restraint program, advice to FRBanks re
payment for committee members
Wayne, Edward A., adviser to Board, FRBank of Richmond to be
reimbursed for salary and travel expenses
Weiner, Louis, granted official leave and expenses to
attend National Conference on Income and
Wealth
Wilmerding, Lucius, consultant for Patman questionnaire,
approved
Travel Regulations:
Board of Governors, as amended
Board members, requests for approval to be submitted to Mr.
Norton on behalf of Personnel Committee
in absence of Mr. Evans
Treasurer of the United States:
Currency, authorization for officers of FRBank of Richmond
to sign requests in case of emergency,
advice to
Gold certificate fund, authorization for signing of checks
in case of emergency, advice to
Department:
Treasury
Bonds not yet eligible for purchase, acquisition by commercial banks, violations of regulations
to be reported
Budget, expenses for savings bond luncheons &rid dinners,
reference to payment by Board, discussion
of




10/19

2140

9/11
10/18

1918
2135

5/28

1195

10/19

2139

12/18

2442

12/26

2485

1/3
4/10
10/19

26
755
2140

4/17

829

5/23

1169

9/11

1918

10/19

2140

4/30

928

6/12

1312

9/11

1909

9/11

1907

8/24

1819

7/19

1587

427
Pages
Treasury Department: (continued)
Credit, views of Beard v. Treasury discussed after FOMC
2/6
meeting with President of the U. S.
their merger and conConversion of national banks into and
solidation with State banks, proposed bill,
/
87
report to Bureau of the Budget
Crusade for Freedom, contributions for, advice to Mr.
Bartelt re support of Beard
9/24
Currency, campaign to get coins back into circulation, request of Director of the Mint that FRBanks
4/30
conduct, reply to
policies, agreement re discount
Debt management and monetary
rate, cooperation in seeking legislation to
restrict expansion of bank credit, and press
3/2
statement approved and ratified
discussion of problem of deficit
Defense housing bill,
financing as affected by real estate credit
8/23
situation to be created by enactment of
FRnotes:
Interest payment, establishment of rate for period ending December 31, 1950, approved, advice to
/
1 2
FRBanks
rate for period endInterest payment, establishment of
4/27
ing March 31, 1951, advice to FRBanks
Reserve stock, refund for establishing, method of ad5/28
justment approved, advice to Mr. Foley
existing
Interest payment on, question of reopening
6/31
arrangements, advice to FRBanks
payment on, establishment of rate for period
Interest
of preceding three months, advice to FRBanks 7/26
Interest payment, establishment of rate for preceding
10/26
three months, advice to FRBanks
Fiscal position of Government, series of slides presented
4/26
at Board meeting
Gold transactions, discussions with staff re modification
of position of International Monetary Fund
on and reference to statement of June 18,
11/15
1947
Kriz, Miroslav A., no objection to work assignment on part10/15
time basis, advice to FRBank of New York
Merger of national banking associations, proposed bill re,
no objection to, advice to Bureau of the
7/26
Budget
Relations of Board with, discussion after FOMC meeting with
2/6
President of the U. S.
Relationships of FRSystem with, cooperation required for
/0
22
control of inflation, statement of FAC
Relationship of Beard with, agreement reached re debtmanagement and monetary policies, joint
statement approved and ratified




258

1703
1992

913

474

1800

13
901
1198
1325
1631
2175
893

2256
2111

1634
258
384

474

428
Pages
Treasury Department: (continued)
Reserve requirements, task force committee report discussed,
to be taken up with Mr. Martin before sub3/20
mission to Wilson committee
4/20
change in regulations governing payment of
Savings bonds,
Savings bond sales campaigns, payment by Board of expenses,
Chairman Martin to discuss matter further
4/24
with Mr. Clark and Secretary Snyder
of increased, discussion at Presidents ConPromotion
ference, System to continue to study matter 5/18
Payment for dinners and luncheons, Board to make no
blanket commitment but to assist on certain
5/31
occasions, Mr. McDonald to be advised
8/16
FRSystem support of, Mr. Snyder to be advised of
S. 1150, to provide for reorganization of, report sent to
4/23
Bureau of the Budget
4/30
Report sent to Senator McClellan
Staff:
Haas, George C., Director of Technical Staff, present at
4/26
Board meeting
Mayo, Robert P., Asst. Director of Technical Staff,
4/26
present at Board meeting
Tickton, Sidney G., Asst. Director of Technical Staff,
4/26
present at Board meeting
12/6
Taxation of banks, study and questionnaire favored by
Treasury financing:
Agreement with Treasury necessary to be reached, statement
2/20
at meeting of FAC
Cooperation between FRSystem and Treasury necessary for,
2/20
statement of FAC
Debt management, views of Chairmen of FRBanks to be requested 2/27
Deficit, discussion at FAC meeting of means to raise addi9/18
tional funds
FONG meeting with President, discussion of letter from President re, Mr. Vardaman's statement, and
2/6
article by Doris Fleeson in Evening Star
Long-term refunding to be done at 2-3/4 per cent for 3 per
2/20
cent rate, statement of Mr. Eccles
1/30
of Mr. Vardaman
Public statement recommended in memorandum
Support of market, conversion of debt into long-term securi11/20
ties, discussion at FAC meeting
Treiman, Israel:
Mercantile-Commerce Bank and Trust Company of St. Louis,
disposition of stock of Mercantile-Commerce
National Bank of St. Louis, request for
/
6 25
hearing on behalf of clients
meeting to discuss Regulation W
Trembath, N. T., present at
problem of T & E Company, Inc., Wilkes12/14
Barre, Penna.
Regulation W, rental of food freezers, advice re
Trotta, A. L.,
11/29
question raised by Allied Stores Corp.




619
867

884
1134

1218
1762
875
915

893
893
893
2371

388
383
456
1948

258
391
217
2284

1412

2415
2324

429
Pages
Trueman, Paul E., of Quinn Brothers, Willmar, Minn., Regulation
W, letter to Senator Thye on administration
of
Trust funds:
Common, amendment to Regulation F to increase limitation on
investments approved, advice to FRBanks
Establishment under Regulation F, authority of Board not
required for, advice to National Bank of
Commerce, Memphis, Tenn.
Fidelity-Philadelphia Trust Company, Philadelphia, Pa.,
services as agent for banks and trust companies in administration of, not prohibited by Regulation F or fiduciary relationship
Valuation ef new investment series of nonmarketable
2-3/4 per cent Treasury Bonds, advice to
FRBanks
Valuation of nonmarketable U. S. Bonds (S-1289-a),
statement to be published in FRBulletin
Publication of data in journal of Mr. Luhnow, reply to
request for data and information
U. S. savings bonds and nonmarketable 2-3/4 per cent
Treasury bonds, no objection to transfer
at par value from individual trusts to,
advice to FRBank of San Francisco and
other FRBanks
Transfer to Fund of U. S. Bonds (S-1326), statement to
be published in FRBulletin
Publication of data to be deferred pending study re,
advice to Mr. Luhnow
regarding collateral security for trust
Oregon statute
funds, difference between, and provisions
of Regulation F
Tunnel, expenditure to put in condition for use as general
storage space approved
Turner, B. E., Regulation X, leasing plans, advice to FRBank
of San Francisco re questions

/
6 22

1405

2/5

252

2/28

465

1/23

174

3/21

639

4/13

811

5/10

1015

5/10

1023

5/11

1039

5/31

1224

7/26

1636

9/17

1944

4/26

897

12/18

24/.8

3/22

643

1/18

145

'lull

Union of Soviet Socialist Republics, publications exchanged
between Board and, survey of arrangements
sent to Department of Justice
United Nations:
Moore, 0. Ernest, FRBank of New York, granted leave without pay to serve Technical Assistance
Administration as financial adviser to
Government of Haiti
Schlesinger, Eugene, FRBank of New York, granted leave of
absence without pay to assist




430
Pages
U. S. Appliance Company, South River, N. J., Regulation 1,1
amendment to allow trade-ins on appliance
sales as down payment
United States Chamber of Commerce, meeting in Washington on
December 13-14, group of executives to be
invited by Board to luncheon, payment of
cost approved
United States Plywood Corporation, Regulation X, leasing
arrangements subject to
University Motors, advertisement as to automobile purchasers
exempt from provisions of Regulation WI
letter to Senator Cain
University of Michigan:
Consumer Finances, Sixth National Survey, expenses in excess of amount provided in agreement
approved, advice to
Consumer Finances, Seventh Nation-wide Survey approved
after discussion of uses and need for
Consumer Finances, seventh annual survey, contract
approved, advice to Vice President
Pierpont
Used Car Statistical Bureau, Inc., copies of Amendment No. 5
to Regulation W sent to
Utah:
Regulation X, letter to Senator Watkins re situation

5/18

1120

11/28

2321

6/11

1296

8/21

1789

4/11

785

9/27

2010

10/31

2190

12/29

2516

6/21

1395

"V"
Van Koughnet, Donald E., Regulation X, construction of manse
for Warner Memorial Presbyterian Church
8/15
of Kensington, Md.
Veterans:
Bonus issues, status of, statement of Chairman Martin at
11/20
FAC meeting
H.R. 5278, direct loans in areas of large population where
private 4 per cent capital is not avail10/2
able, report to Bureau of the Budget
guarantee or insurance privilege,
Loans, abuse of GI credit
recommendations re restrictive action
12/18
sent to Office of Defense Mobilization
application of section 6(f) to loan program
Regulation X,
6/4
of Wisconsin
Wisconsin State veterans program, application of Regula6/22
tion X to, advice to FRBank of Chicago
Veterans Administration:
Credit insured under, increase in New York and New Jersey
7/9
area
Loans insured under G.I. Bill, abuse of privilege for
purchase of automobiles in Newark and New
62
/1
York City areas, reply to Mr. Wareheim




1753

2276

2034

2448
1238
1409

1512

1394

431
Pages
Veterans Administration: (continued)
Regulation W, exemptions, summary of discussion re sent to
FRBanks
1/15
Video Meter, Inc., San Francisco, Regulation W I television
rental plan
8/22
Vineyard, W. R., Regulation W, visit by Mr. Armstrong of
Baltimore Branch to discuss, letter to
1/9
Senator Kilgore
Violations:
Bank of Montreal, Canada:
Chicago Branch, violation of section 21 of Banking Act
62
/7
of 1933, advice to Attorney General
Chicago Branch, violation of section 21 of Banking Act
of 1933, suit filed by Mr. Soble against,
12/28
further advice to Attorney General
Defalcations in insured banks, list and chart from FDIC,
copies sent to FRBanks for discussion of
surety coverage with member banks
5/4
Syracuse, New York, further advice to FRBanks re circumstances, problem of audit and controls
8/2
system to be studied
Conference of bank supervisory agency representatives
and others to discuss problem, discussion
10/4
at Presidents Conference
Conference to discuss, comments of National Association
of Supervisors of State Banks to be received by Mr. Sloan, Mr. Powell to study
10/15
matter further and submit recommendation
Discussion of question and means of control at meeting
11/27
at FDIC, state4aent of Mr. Powell on
Embezzlements in western Pennsylvania, discussion of
publicity re at meeting in Harrisburg,
11 2
/7
Pa., statement of Mr. Sloan
Dallas and Atlanta banks, situation existing involving
technical violation of Section 5136 of
6 5
/
Revised Statutes
Federal Reserve Life Insurance Company, St. Louis, Mo.,
violation of Title 18 U.S.C., Sec. 709
through use of words "Federal" or "Reserve",
advice to FRBank of St. Louis
5/14
Kiting of checks by George Henry Lane, Jr., between accounts
at First Security Bank of Idaho, National
Association, Boise, Idaho, and Continental
State Bank, Boise, Idaho, not considered
criminal violation, advice to Department
7/13
of Justice
Regulation W:
A. Harris Motor Sales, Pittsburgh, Pa., order directing
investigation and designating officers to
1/30
take testimony




121
1796

85

1439

2512

982

1671

2058

2109
2306

2308

1244

1042

1570

211

432
Pages
Violations: (continued)
Regulation W: (continued)
A. Harris Motor Sales, Pittsburgh, Pa.: (continued)
Issuance of injunction, press statement sent to
FRBanks and branches
2/23 434
Referred to Department of Justice
12/13 2412
Administrative proceedings, discussion of use by Board
in certain cases
5/10 1009
Advertised single payment plan for financing automobiles in Minneapolis, check to be made on,
advice to Mr. Wareheim
3/15 599
Aldon Construction Company, Inc., Belleville, N. J.,
order directing investigation
8/23 1811
Referred to Department of Justice
12/13 2412
Alexander Max, d.b.a. National Clothing and Furniture
Company, Baltimore, Md., order directing
investigation
5/17 1111
Allan Gordon and Eli Temkin, Partners d.b.a. National
Stores, order directing investigation
8 22 1797
/
Aluminum Home Improvement Company, Des Moines, Iowa,
matter referred to Department of Justice
8 2 1782
/0
Additional information requested from FRBank of
Chicago for submission to Department of
Justice
9/11 1919
Andrew C. Cain, William C. Cain, and Lee Bing (d.b.a.
Dixie Sewing Dealers); New Orleans, La.,
report sent to Department of Justice
6 19 1369
/
Order directing investigation approved
8/8 1711
Arkansas Home Building and Repairing Company, Little Rock,
Ark., investigation to be conducted by FRBank
of St. Louis, advice to Congressman Gathings
re request of Mr. J. M. Scoggins
2/21 425
Atlas Furniture Company, Detroit, Mich., order directing
investigation issued
5/10 1024
Atlas Sew-Vac Stores, Inc., Houston, Texas, order directing investigation
5/16 1093
Atlas T. V. Stores, Inc., Houston, Texas, order directing
investigation
5/16 1094
Atlas T. V. Stores, Inc., and Atlas Sew-Vac Stores, Inc.,
Houston, Texas, judgment entered against
6/11 1290
Barney Roth Company, Inc., Philadelphia, Pa., case referred to Department of Justice
12/20 2477
Beloit, Wis., case, payment for expenses of U. S.
Marshal in serving judgment approved
2/'21 428
Best Radio Shop, Cleveland, Ohio, no proceedings to be
instituted at present as no violations
11/1
disclosed after investigations
2198
Bogda Motor Company, Inc., Indianapolis, Ind., order
directing investigation and designating
officers to take testimony
1/30 213
Judgment against, press statement sent to FRBanks
2 15 353
/




433
Pages
Violations: (continued)
Regulation W: (continued)
Clement B. DeRose, d.b.a. Genessee Construction Company,
South Bend, Ind., matter referred to De8/20
partment of Justice
Clyde Fitz and Blanche E. Fitz, d.b.a. Northwest
Finance Company, Hamilton, Mont., referred
to Department of Justice
9/4
Contractors Roofing and Siding Corporation, Nutley,
8/23
N. J., order directing investigation
Siding Corporation and CooperaContractors Roofing and
tive Construction Company, Inc., Nutley,
N. J., referred to Department of Justice
12/13
Criminal proceedings instead of civil, suggested by
Mr. Vardaran
1/25
Crow Lumber Company, Vermilion, Ohio, investigation of
records, action to be instituted to compel
10/11
registrant to allow
Deal by used car salesman to permit instalment obligation at inception to have maturity inconsistent with, advice to Mr. James J.
1/26
Kelleher
5/10
Department of Justice, procedure for reference to
Disciplinary conference for willful violators, clarification of Section II, 2 of Outline En9/26
forcement Program, advice to FRBanks
Duke Randall Motors, Inc., of San Pedro, Calif., order
directing investigation and designating
2/19
officers to take testimony
Mr. Townsend to go to West Coast in connection
2/21
with injunction proceeding against
Judgment against, press statement sent to FRBanks
2/26
and branches
Enforcement procedures, statements of Congressman
Tackett in Congressional Record, to be
6/28
ignored in absence of further developments
Release and resolution of Congressman Tackett re,
matter to be considered further by Chairman
7/12
Martin
7/17
No changes suggested for
FRBank responsibility for, statement of Mr. Evans on
7/31
procedure for handling
Excessive amount of credit by Registrant-lender based on
Statement of Borrower containing inflated
cash price of article, question of criminal
penalties for seller involved, advice to
10/2
FRBank of Cleveland
Expenses, Solicitor's Office authorized to approve payment of future bills for investigations
2/21
and court proceedings




1782

1863
1812

2412
186

2089

206
1008

2008

374
417
441

1457

1536
1555
1654

2035

428

434
Pages
Violations: (continued)
Regulation W: (continued)
FHA insured contracts, procedure for reciprocal report3/16
ing between FRBanks and FHA
FRBank of Minneapolis:
Methods used in investigation, letters to Congressmen Thye and Wier
7/19
Methods of investigation, further advice sent to
8/3
Congressmen Wier and Thye
Fifth Avenue Motor Sales, Inc., Columbus, Ohio:
Order directing investigation and designating of1/2
ficers to take testimony approved
1/12
Fees for witnesses attending hearings approved
Judgment against, press statement to be issued,
1/18
advice to FRBanks
Consent injunction from further violations, state1/23
ment of Mr. Townsend
4/17
Fireside Finance Company, order directing investigation
General Television Corporation, Cleveland Heights, Ohio,
no proceeding to be instituted and case
11/28
closed
Gould Investment Company, Beverly Hills, Calif., case
8/2
closed as investigation of books permitted
H. Bartels, Inc., Philadelphia, Pa.:
Use of administrative proceeding approved to de5/10
termine suspension of license
Order for proceedings and notice of hearing
5/28
approved
Hearing being held by Mr. Teegarden, public hearing
to be granted if requested
7/17
Supplemental and amended order for proceedings and
notice of hearing pursuant to section 8(b)
7/19
approved
7/31
Hearing on, status of
8/8
Stipulation of counsel approved
Order granting respondent's request for oral argu11/13
ment approved
Order resetting date for oral argument (January 4,
11/21
1952) approved
(d.b.a. Hamric Motor Sales), order
Hamric, Herman Bryan
4/17
directing investigation
Townsend to confer with FRBank
Handling of cases, Mr.
4/17
officers to determine
7/17
granted if requested
Hearings, public to be
Services of Mr. Fitzpatrick, hearing examiner for
9/28
NLRB, requested
Television Service Center, CinHerb Black, d.b.a.
cinnati, Ohio, issuance of order suspend10/26
ing license for 15 days approved




611

1591
1683

7
117
146
169
822

2318
1675

1009
1202

1554
1592
1653
1712
2232
2296
824
820

1555
2028

2167

435
Pages
Violations: (continued)
Regulation W: (continued)
Herb Black, a.k.a. Herbert Blackschleger, d.b.a. Television Service Center, Cincinnati, Ohio,
order for proceedings approved
Order suspending license approved
Herbert Sweren and Arnold L. Schwartz, a partnership,
d.b.a. Arnold Sales Company, order directing investigation
Homecraft Products, Inc., Peoria, Ill., referred to
Department of Justice
Household Appliance Company of Albuquerque, New Mexico,
explanations furnished to Senator Anderson, information to be sent to Denver
Branch
Illinois Improvement Company, Peoria, Ill., order
directing investigation issued
Matter referred to Department of Justice
Investigative procedure, to be discussed by FRBank of
St. Louis with Mr. Buckner
Jack Vane, d.b.a. Vane's United Phonograph Co.,
Charleston, S. C., order directing investigation
James E. Semmons, d.b.a. Semmons Furniture Company,
Columbia, Mo., order directing investigation
James Wilson, Robert Green, d.b.a. Green Motor Sales,
Detroit, Mich., and Leonard J. Green,
d.b.a. Magic Motors, Pontiac, Mich., order
issued for investigation
Jet Appliance Company, New Orleans, La., referred to
Department of Justice
Julius Star, Battle Creek, Michigan, referred to Department of Justice
Lange, Walter L., (d.b.a. Lange Television Sales), order
directing investigation, further report to
be made to determine reference to Department of Justice
Leo Berman, d.b.a. Leo Berman Hardware and Appliances,
Chicago, III., matter referred to Department of Justice
Lisle, P. C., (d.b.a. Lisle Motor Company), order
directing investigation
Marvin A. Smith Company, Dallas, Texas, order directing
investigation and designating officers to
take testimony
of injunction against, text of press
Issuance
statement sent to FRBanks and branches
Tire and Supply Company, Lawrence, Mass., adminMaster
istrative proceeding authorized because of
flagrant violations to determine suspension of license




11/14
11/14

2248
2250

5/17

1109

11/15

2263

6/29

1466

5/10
8/20

1026
1782

3/27

686

9/21

1984

9/6

1878

12/27

2501

12/13

2412

12/13

2412

5/1

940

8/20

1782

4/17

823

3/5

489

3/9

555

9/6

1874

436
Pages
Violations: (continued)
Regulation W: (continued)
Master Tire and Supply Company: (continued)
Administrative hearing, request for services of
NLRB examiner to conduct
9/11
Louis Master and Morris Master, d.b.a. Master Tire
and Supply Company, Lawrence, Mass., order
for proceedings and notice of hearing re
10/4
Order suspending license approved
11/13
Mattlin, Robert, d.b.a. Music Shop, East Cleveland,
Ohio, referred to Department of Justice
9/4
Maxim Appliance Company, Bartow, Fla., investigation of
records, action to be instituted to compel
registrant to allow
5/8
Suit to be dismissed as records made available for
6/19
investigation
McCamey and Guy Motor Sales, order directing investigation
4/17
Michael Home Equipment Company, Inc., Washington, D. C.,
television sets, re-investigation to be
made, advice to FRBank of Richmond re later
2/1
developments
3/13
Order directing investigation
Injunction to be issued
5 3
/
Miller Motor Sales, Inc., St. Louis, Mo., order directing investigation and designating officers
to take testimony
5/24
8/7
Case closed as business ceased by
Minnesota Soft Water Company, Minneapolis, Minn., matter
11/15
referred to Department of Justice
Norm Birkhead Auto Sales, Evansville, Ind., order directing investigation and designating officers
2/19
to take testimony
Oconee County, S. C., reported by Mr. McCallum, advice
7/18
to Senator Johnston re investigation
Ogden Auto Mart, Inc., Chicago, Ill., order directing
investigation
3/20
Issuance of injunction, advice to FRBanks and
branches
3/30
Company, North Kansas City, Mo., investigaPayton-Nash
tion to be completed and reports sent to
12/12
Board
Finance Company, Yonkers, New York, report
Personal
6/19
sent to Department of Justice
7/31
Procedure for handling case, statement of Mr. Evans
Pettyjohn Motor Company, Inc., Monte Vista, Col., investigation to be completed and reports
12/12
sent to Board
Plichcih, George M., (d.b.a. Reliable Used Car Company)
4/17
order directing investigation




1920

2065
2235
1863

995
1370
826

232
579
974

1180
1704
2263

374
1578
625
711

2406
1369
1654

2406
827

437
Pages
Violations: (continued)
Regulation W: (continued)
Public Loan Corporation, order directing investigation
Walter L. Boynton and Herman Bryan Hamric, d.b.a.
Hamric Motor Sales, case referred to
Department of Justice for action
Copy of testimony of investigation to be purchased
by, furnishing of information re Board
action to be left to discretion of Solicitor
Discussion with Department of Justice, U. S.
Attorney in San Francisco to be instructed
to prosecute case
Walter L. Boynton and Herman Bryan Hamric, d.b.a.
Hamric Motor Sales, San Francisco, Calif.,
no decision reached by Department of
Justice as yet
R. B. Brown, d.b.a. Sylvan Radio and Television Company, Washington, D. C., order directing
investigation
Raleigh Finance Company, Philadelphia, Pa., case referred to Department of Justice
Roberts Motor Company, Evansville, Indiana, order
directing investigation and designating
officers to take testimony
Norm Birkhead Auto Sales, partners to be called in
for disciplinary conference in lieu of
other action
Rosen Home Equipment Company, Inc., Baltimore, Md.,
order directing investigation
Rosen's, Inc., Baltimore, Md., referred to Department
of Justice
Roy's Appliance Company, Beloit, Wis., order directing
investigation and designating officers to
take testimony approved
Judgment against, press statement sent to FRBanks
Sam Kay (doing business as Arkansas Home Building and
Repairing Co.), order directing investigation issued
Report sent to Department of Justice
Semmons Furniture Company, Columbia, Mo., matter referred to Department of Justice
Small loan companies, statement of Mr. Evans
T and E Company, Inc., Wilkes-Barre, Penna., leasing
arrangements, representatives to be invited to discuss matter
Meeting to discuss automobile leasing problem, discussion of amendment to Regulation
Teal Bros., Inc., Detroit, Mich., referred to Department of Justice




4/17

821

5/8

992

5/8

994

5/10

1008

6/19

1366

5/17

1115

12/20

2478

2/19

374

6/13

1328

5/17

1113

9/4

1863

1/25
2/2

184
242

4/10
6/19

769
1369

11/15
7/31

2263
1655

12/4

2358

12/14

2415

/
94

1863

438
Pages
Violations: (continued)
Regulation W: (continued)
W. H. Brandbo, d.b.a. Brandbo Motors, and Clyde Fitz
and Blanche E. Fitz, d.b.a. Northwest
Finance Company, Hamilton, Montana, referred to Department of Justice
Walter L. Lange, d.b.a. Lange Television Sales, St.
Paul, Minn., report sent to Department of
Justice
Witness fees approved
Regulations W and X, letters to Chief National Bank Examiner, FDIC and Federal Security Agency
on reporting
Procedure for reference to Department of Justice and
holding of administrative hearings, to be
reviewed by Mr. Norton with Messrs. Townsend, Vest, and Carpenter, present procedure to be continued pending adoption
of changes
Rules of Procedure, amendments re issuance of subpoenas and payment of witness fees approved
Enforcement, procedure approved
Enforcement program, discussion at Presidents Conference
of enforcing compliance rather than criminal prosecution
Regulation X:
Bush-Burns Realtors, St. Louis, Mo., case closed as inspection of books allowed by investigators
C. A. Tindall, d.b.a. C. A. Tindall & Company, Memphis,
Tenn., order for investigation approved
Dennstedt Company, San Diego, Calif., investigation to
be continued by FBI
Gould Investment Company, Beverly Hills, Calif., order
directing investigation
Robert A. Burns, d.b.a. Bush-Burns Realtors, order
directing investigation
Mortgage Company, Houston, Texas, order directing
Texas
investigation
Statutes Section 5136, technical violation inRevised
volved in proposed consolidation of
Mercantile-Commerce Bank and Trust Company,
St. Louis, with Mississippi Valley Trust
Company, St. Louis
advice to FRBanks re circumstances, in connection
Syracuse,
with letter from FDIC re matter of fidelity
coverage
Virginia:
Regulation W, meeting of automobile dealers at Senator
Robertsonts office, statement of Mr. Evans
re need for tightening of terms




9/4

1863

6/19
1/12

1369
117

4/5

740

6/19

1368

6/28
8/14

1454
1738

10/4

2051

9/21

1983

12/11

2395

9/10

1902

5/8

996

6/13

1330

9/27

2022

6/5

1242

5/4

982

2/21

415

439
Pages
Virginia Automobile Dealers Association:
Regulation W, graduated maturity schedule proposed by, not
favored at present, advice to Senator
Robertson
3/9
Visits:
Identification cards for use of FRBank and branch officials
on visits at Board and FRBank and branch
buildings, views of FRBanks requested
8 1
/7
Identification cards, issuance to members of certain groups
and form approved
9/27
Knight, Joan, of Bank of England, ex9ensos involved in
entertainment by Miss Ayers approved
10/16
Voluntary agreements:
Amendment to Program re FRBank representation on subcommittees, comments of FRBanks requested
3/2
Committee for Voluntary Credit Restraint, members of
3/6
Meeting of representatives of financing institutions in
New York, Messrs. Powell and Vest to attend 2/1
Press release to be issued after establishment of Committee
3/5
Program, amendment to Procedure re membership of Federal
Reserve representatives on subcommittees,
advice to Attorney General and Federal
Trade Commission
3/5
Voluntary credit restraint program:
Commercial and industrial loans, information needed by
3/21
Opposition of Mr. Vardaman to dominant position of FRSystem
in
4/5
Progress of, discussion at FAC meeting, definition of
"essential production"
5/15
Statement of Mr. Powell at Presidents Conference
5/18
Bulletin No. 4 re real estate credit, to be revised if no
objection by Housing and Home Finance
Agency
9/6
Topic for discussion at meeting of FAC
9/5
Status of, discussion at meeting of Presidents with Board
10/4
Effect on restricting credit to defense loans, discussion
at FAC meeting
11/20
Bulletin No. 4, to be amended upon approval of Amendment
No. 8 to Regulation X
12/20
Voting permits:
BancOhio Corporation, Columbus, Ohio, issuance of general
permit to vote stock of Knox County Savings Bank, Mount Vernon, Ohio
8/24
Marine Midland Corporation, Jersey City, N. J., application for general permit covering controlling stock of National Chautauqua County
Bank of Jamestown, N. Y., action deferred
pending Mr. Evans' recommendation, FRBank
12/6
of New York to be advised




552

1767
2024
2123

480
496
228
486

484
640
730
1060
1138

1873
1869
2060
2274
2464

1818

2366

440
Pages
Voting permits: (continued)
Marine Midland Corporation: (continued)
Application for general permit covering stock of National Chautauqua County Bank of Jamestown,
New York, to effect consolidation with
Union Trust Company of Jamestown, New York,
action to be postponed until Board meeting
on December 17, Mr. Sproul to be advised
Application for general permit covering stock of National Chautauqua County Bank of Jamestown, N. Y., issuance approved ufter further discussion, but no decision re
application of Clayton Act indicated
New Hampshire Bankshares, Inc., Nashua, N. H., issuance of
general permit to vote stock of New
Market National Bank, Newmarket, N. H.
Transamerica Corporation, San Francisco, Calif.:
Issuance of limited permit to vote stock of First National Bank of Mountain View, Calif., and
First Rational Bank of Garden Grove, Calif.
Granted limited permit to vote stock of three national
banks
Issuance of limited permit to vote stock of First National Bank of Mountain View, Calif.
Issuance of limited permits to vote stock of First
National Bank of Arizona, Phoenix,
Arizona, and First National Bank of Eugene,
Oregon, approved
Vouchers:
Commodity Credit Corporation reimbursable expense, request
by PMA auditors in connection with audit
of CCC custodian accounts, declined, advice to FRBanks
Fiscal Agent for Department of Commerce, claims
FRBanks as
for reimbursement of expenses to be sent to
Accounting Officer, advice to FRBanks
Robert N., approved to reimburse FRBank of PhilaHilkert,
delphia for services as Consultant at Board
Lang, Arthur H., Chief FRExaminer, voucher for expenses including per diem in lieu of subsistence
while in Washington, D. C., approved
Rachford, Philip C., Asst. FRExaminer, approved for attendance at Graduate School of Banking including per diem in lieu of subsistence for
time from duty station to New Brunswick,
N. J., and return
Wayne, Edward A., Adviser to Board, approved to reimburse
FRBank of Richmond for services and expenses




12/14

2417

12/17

2425

1/4

34

/7
11

139

6/29

1462

7/12

1542

10/17

2127

4/5

744

7/11

1529

9/14

1940

6/21

1386

7/16

1550

9/14

1940

441
Pages
"W"
Wage Stabilization Board:
Group life insurance plan for officers and employees of
FRSystem, ruling requested on
10/15
Wakeeney, Kansas, Regulation W, disaster designation, comments
re sent to FRBank of Kansas City
8/13
Walker, Dr. W. H., member of Voluntary Credit Restraint Committee
5/7
Walter, Francis E., Regulation W, reply to letter from Mr.
Sundberg
19
/
War:
Japan, termination of state of war, no Board authority to
expire by treaty of peace, advice to
Bureau of the Budget
12/18
Legislation, report to Bureau of the Budget on Civilian
War Relief Act of 1951 and War Damage
Restoration and Rehabilitation Act
7/2
War damage:
Draft of legislation to provide compensation for, report
to Bureau of the Budget
5/23
War emergency plans:
FRBank of Richmond to be used as relocation center, memo
of Mr. Carpenter approved
9/11
War loans:
Bank of America NT&SA, H.R. 1672 for relief of, in connection with loan during World War II, report
to Bureau of Budget
10/25
War protective measures:
FRBuilding in event of air raid warning, memo approved,
copies to be sent to employees
/
64
Ward, Harry E., Regulation WI application to radio and television field
4/13
Wareheim, E. C., Regulation W:
Advertised single payment plan for financing of automobiles
in Minneapolis, check to be made on,
advice to
3/15
Exemption for loans to purchase automobiles insured under
G.I. Bill, abuse of privilege in Newark
6 21
/
and New York City areas, reply to letter
Purchase of cars by veterans on basis of nothing down and
36 months to pay with insurance under VA
7/9
reply to inquiry
Warner, Henry, reply to letter to Senator Lodge on Bulletin
No. 4 on loans on real estate issued by
79
/
Voluntary Credit Restraint Committee
Wartime protection of records and personnel, arrangements
approved
4/17
Washington Association of Roofing, Siding and Insulation Contractors, Inc., Regulation W, resolution
re home improvements and repairs
4/13




2099
1732
987
86

2451

1469

1173

1906

2158

1240
809

599

1394

1512

1510
833

805

442
Pages
Washington Gas and Electric Company of Tacoma, Washington, proposed plan for leasing gas-fired water
heaters, application of Regulation W,
advice to Mr. Schofield
Watkins, Arthur V., Regulation X, effects on economy, comments
re situation in Utah and value of older
houses
Waybur, Bruce, Regulation W I television sales, request for
relaxation of requirements not approved
Wentworth, Frank E., Regulation W, letter to Congressman Lane
on sales of automobiles to workingmen who
require cars to reach places of employment
West, Ralph R., President, Smaller Business of America, Inc.,
plan for establishment of regional Federal
Loan Insurance Associations to supply
credit to small businesses
Western Union Telegraph Company:
Federal Reserve Leased Wire System, additional installations for more efficient service to be
made, advice to
Additional installations, arrangements approved, advice to Mr. Manning
Westinghouse Electric Corporation:
Regulation W, trade-ins, discussion with representatives
of
Wheeler, Edward K., Regulation T, application to Chesapeake
and Ohio Railway Company in connection
with Employee's Stock Purchase Plan
White, John A., Regulation W, relief requested for financing
of home modernization, repairs or improvements
White, Joseph, credits to finance construction and purchase of
service station, Regulation X, advice to
FRBank of Boston re possibility of amendment re section 5(g)
Wickersham, Victor:
Regulation W, application to appliances and housefurnishings sales as presented by Mr. Hinkle
Regulation X, reply to letter re questions raised by
Washington Letter of National Association
of Home Builders on construction and
mortgage outlook
Wier, Roy W., Regulation W:
Methods used by FRBank of Minneapolis in connection with
investigation, reply to complaint
Methods of investigation used by FRBank of Minneapolis,
further advice
Wiley, Alexander:
Deposit of bankruptcy funds, inquiry of Mr. Omernik
Regulation X, purposes of, reply to letter from Mr. Tipple




11/15

2262

6/21

1395

5/10

1019

6 5
/

1254

5/22

1157

10/22

2144

11/8

2217

9/11

1915

8 17
/

1769

4/9

748

9/19

1969

5/14

1048

61
/4

1343

7/19

1591

8/3

1685

12/19
5/11

2455
1037

443
Pages
Wiley, Alexander: (continued)
Letter from Mr. Schomer on lack of bank credit available
62
for small businesses
/9
Regulation X, reply to nine telegrams sent from Madison,
8/2
Wisconsin
Williams, Warren L., Regulation X, telegram to Congressman
8/9
Horan re terms
Williamson, C. A., Regulation X, letter to Senator Holland re
6/5
supply of mortgage funds
Wilson, Charles L., margin requirements, section 3(a) of Regulation T, advice re effect on trades in
old account with one broker and new
account with different broker
2/5
Wimer, Franklin B., Regulation X, effects on residential con6/13
struction business in Pittsburgh area
Wisconsin:
Veterans' loan program, application of Regulation X to
/
64
Veterans' program, application of Regulation X to, advice
62
/2
to FRBank of Chicago
Withdrawals from membership:
Bank of Babylon, New York, application for continuance of
insurance after withdrawal, advice to FDIC
9/14
Six months notice waived and immediate withdrawal
approved
9/21
Bank of New Hyde Park, New York, six months notice waived
and application for immediate withdrawal
approved
2/26
Application for continuance of insurance after withdrawal, advice to FDIC
2/28
6/26
Granted extension of time to accomplish
Bell Gardens Bank, Bell Gardens, California, application
for continuance of deposit insurance after
withdrawal, advice to FDIC
3/28
Six months notice waived and immediate approved
4/5
Citizens Bank of Aztec, New Mexico, application for continuation of insurance after withdrawal,
3/28
advice to FDIC
waived and immediate withdrawal
Six months notice
62
/9
approved
10/9
of time to accomplish withdrawal
Granted extension
Farmers State Bank, Jesup, Iowa, six months notice waived
and immediate approved
4/5
Application for continuance of insurance after withdrawal, advice to FDIC
4/24
Houtzdale Bank, Houtzdale, Pennsylvania, six months notice
11/8
waived and immediate withdrawal approved
Continuance of insurance after withdrawal, advice to
11/28
FDIC
Jefferson-Gravois Bank of St. Louis, Mo., application for
continuance of insurance after withdrawal,
3/21
advice to FDIC




1464
1676
1722
1251

248
1332
1238
1409

1936
1982

440
465
1428

691
739

691
1465
2078
738
889
2216
2315

637

A 44
Pages
Withdrawals from membership: (continued)
Jefferson-Gravois Bank of St. Louis, Mo.: (continued)
Granted extension of time to accomplish withdrawal
5/23
Oaktown Bank, Oaktown, Indiana, six months notice waived and
immediate withdrawal approved
9/21
Peachtree Bank & Trust Company, Atlanta, Georgia, six
months notice waived and immediate withdrawal approved, advice to FDIC re continuance of insurance
9/27
Sarasota State Bank, Sarasota, Florida, six months notice
waived and immediate withdrawal approved,
advice to FDIC re continuation of insurance
7/26
Sullivan County Trust Company, Monticello, New York, six
months notice waived and immediate approved 4/5
Application for continuance of insurance after withdrawal, advice to FDIC
4/19
Washington County Bank, Blair, Nebraska, six months notice
waived and immediate withdrawal approved
5/8
Witter, John, Regulation T, reply to letter re extensions of
time granted by committee of national
securities exchange in exceptional circumstances
9/24
Wolverton, Charles A., Regulation W, letter from Mrs. Rennie re
down payments for appliances and television
sets
5/1
Wood, Orrin G., unable to accept appointment as member of Voluntary Credit Restraint Committee
3/13
Woodcock, M. E., Regulation W, correspondence re purpose of
5/17
Woodruff, C. N., Regulation W, question of limiting allowances
on automobile trade-ins
4/30
Woodruff, Nathan H., proposed commercial center at Oak Ridge,
Tenn., question of application of Regulation X
12/7




1173
1981

2018

1635
738
860

999

1988
949
578
1105
924
2388